A Limited Power of Attorney Dissected
How much do you know about a power of attorney? You can draft various types of POAs and tailor them to your needs and preferences. A limited power of attorney ensures that particular aspects of your life—such as your finances, career, or health—will be taken care of on the terms you specify in the contract.
If you want to know the nuances of a limited power of attorney, DoNotPay has the details you need. We will also provide an effortless way to create any power of attorney document!
A limited or specific power of attorney (POA) is a legal document that grants an individual (agent) the authority to make decisions on behalf of another person (principal). What differentiates limited from general power of attorney is the scope of power given to the agent. While a general power of attorney gives the agent full authority over certain areas of the principal’s life, a limited power of attorney restricts the agent’s power to specific:
A limited POA details:
- Duration of a power of attorney, which can range from a single day to several years
- Number and frequency of actions required from the agent
- Authority and liberties given to the agent
Common situations that require a specific power of attorney include:
- Selling property—The principal can grant the agent the power to make certain decisions and sign the documents necessary for the sale on their behalf
- Handling investments—Investment advisors often have their clients sign a limited POA, giving them authority to handle the client’s investments
- Being unavailable to sign business documents—If the principal’s expecting to be out of the country for a specific period, they can authorize someone to sign the documents on their behalf
- Placing a child into another individual’s temporary care—Parents who have to leave the country for a while may grant a family member or a friend temporary power of attorney to make medical or schooling decisions for the child
Having all eventualities in mind, you can choose between the three types of limited POA presented in the table below:
|Type of Limited POA||Description|
|Springing||These documents are created in addition to wills and trusts. They become effective once a specific event triggers them, such as when the principal becomes incapacitated to make particular decisions for themselves. Until the triggering event, the agent has no power to act on the principal’s behalf|
|Durable||A durable limited power of attorney authorizes the agent to act for the principal for an unspecified period—including when they become mentally or otherwise incapacitated|
|Non-durable||A non-durable limited POA can last until the principal dies or becomes incapacitated|
While not advisable, you can create a limited power of attorney yourself. Before you start, you have to define the following:
- Which actions you want to authorize the other person to do for you, as well as the expected duration of their authority
- Who the most appropriate person to act as your agent is
Once you complete the above-mentioned steps, you can go about the writing process as described:
- Research your state laws regarding powers of attorney, so you can choose a template or write the document accordingly
- Define the signers’ roles as the principal and agent and provide their personal information
- Specify the scope of the agent’s authority clearly
- Define the date and circumstances under which power of attorney will be terminated or revoked
- Determine the governing law, which is typically the law of the state where the principal resides
- Execute the document according to your state laws, which for the majority of states means having the POA document notarized
Keep in mind that granting a power of attorney implies significant responsibility for both the agent and the principal. If you decide to write it yourself or use an unreliable contract template, you risk making a huge mistake. It’s easy for a layman to omit important information, which can have detrimental consequences for you or your loved one’s health or finances.
If you find lawyers too pricey, we offer you a more pocket-friendly solution. Sign up for DoNotPay, and we’ll create a limited power of attorney that ticks all the boxes!
The advantages of choosing DoNotPay to create your power of attorney letter are numerous and include:
- Not having to spend money on lawyers or resort to iffy contract templates
- Saving time otherwise spent on researching state laws and drawing up this complicated legal document yourself
- Getting a professional, personalized, and comprehensive power of attorney in minutes
- Using our app to have the document notarized online, from the comfort of your home
Here’s what you have to do to get your tailor-made, durable limited POA in mere minutes:
- Subscribe to DoNotPay
- Go to our Create a Power of Attorney product
- Provide details about the agent and the powers you’re granting them
Our app will incorporate the details you provide to draw up the document. We will also send you two notices that you and your agent are advised to read before signing the POA.
If you choose to have the document notarized with our help, select the corresponding option and let our app connect you to an online notary!
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