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Power Of Attorney, Limited Power Of Attorney
by Kent Pinkerton
Through a limited Power of Attorney, the “principal” can authorize another person, i.e. “agent”, to carry out specified tasks on his or her behalf for limited time duration or only under certain circumstances. The Power of Attorney is therefore “limited” or tailored to meet the needs of a particular transaction or set of transactions (i.e., “the purchase of the real estate in Los Angeles, known as 123 Oak Street”) and comprehensively details the expiration date and full extent of the power. Most people choose a limited Power of Attorney because with this form, the principal can give someone the power to manage his or her finances or property and yet rest easy knowing his or her assets are protected.
A limited Power of Attorney usually reads: “My named attorney-in-fact [or agent] shall have full power and authority to undertake, commit and perform only the following acts on my behalf to the same extent as if I had done so personally; all with full power of substitution and revocation in the presence. Describe the specific authority below: …” The “specific authority” could be property transactions, banking, specified business operations, access to safe deposit boxes, litigation, etc.
Without this restriction, sometimes rigid banks, financial institutions or others to whom it is presented might not accept the Power of Attorney. Thus, if the principal plans to use a stand-in for a financial, real estate or business transaction, he or she must ensure in advance that the other parties have approved the Power of Attorney in question.
Unless revoked, a limited Power of Attorney usually ends at a specified time, unless the principal becomes incapacitated or passes away. Power Of Attorney provides detailed information on power of attorney, power of attorney forms, medical power of attorney, limited power of attorney and more. For more information go to http://www.i-powerofattorney.com and/or visit its affiliated site at http://www.e-cerebralpalsylawyers.com for related information.
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Power Of Attorney, Medical Power Of Attorney by Kent Pinkerton Approximately 446 Words
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Power Of Attorney, Durable Power Of Attorney by Kent Pinkerton Approximately 337 Words
You may want to try these websites for additional information
http://www.lectlaw.com/filesh/qfl04.htm
http://www.irs.gov/taxtopics/tc311.html
http://www.legalzoom.com/legalzip/powerofattorney/poa_procedure.asp?iRefer42
The information provided in this article is the express opinion of the author. Exchangenet is not responsible for the content!
Through a limited Power of Attorney, the “principal” can authorize another person, i.e. “agent”, to carry out specified tasks on his or her behalf for limited time duration or only under certain circumstances. The Power of Attorney is therefore “limited” or tailored to meet the needs of a particular transaction or set of transactions (i.e., “the purchase of the real estate in Los Angeles, known as 123 Oak Street”) and comprehensively details the expiration date and full extent of the power. Most people choose a limited Power of Attorney because with this form, the principal can give someone the power to manage his or her finances or property and yet rest easy knowing his or her assets are protected.
A limited Power of Attorney usually reads: “My named attorney-in-fact [or agent] shall have full power and authority to undertake, commit and perform only the following acts on my behalf to the same extent as if I had done so personally; all with full power of substitution and revocation in the presence. Describe the specific authority below: …” The “specific authority” could be property transactions, banking, specified business operations, access to safe deposit boxes, litigation, etc.
Without this restriction, sometimes rigid banks, financial institutions or others to whom it is presented might not accept the Power of Attorney. Thus, if the principal plans to use a stand-in for a financial, real estate or business transaction, he or she must ensure in advance that the other parties have approved the Power of Attorney in question.
Unless revoked, a limited Power of Attorney usually ends at a specified time, unless the principal becomes incapacitated or passes away. Power Of Attorney provides detailed information on power of attorney, power of attorney forms, medical power of attorney, limited power of attorney and more. For more information go to http://www.i-powerofattorney.com and/or visit its affiliated site at http://www.e-cerebralpalsylawyers.com for related information.
These articles on lifestyle and more
This article is available for syndication. It must be republished with its title, text, and hyperlinks in tact (HYPERLINKS MUST BE KEPT ACTIVE). power of attorney
Return to the selection of power of attorney
You may want to try these articles on power of attorney
Power Of Attorney, Medical Power Of Attorney by Kent Pinkerton Approximately 446 Words
Power Of Attorney, Specific Power Of Attorney by Kent Pinkerton Approximately 356 Words
Power Of Attorney, Power Of Attorney Forms by Kent Pinkerton Approximately 394 Words
Power Of Attorney, Real Estate Power Of Attorney by Kent Pinkerton Approximately 336 Words
Power Of Attorney, Power Of Attorney by Kent Pinkerton Approximately 388 Words
Power Of Attorney, General Power Of Attorney by Kent Pinkerton Approximately 338 Words
Power Of Attorney, Durable Power Of Attorney by Kent Pinkerton Approximately 337 Words
You may want to try these websites for additional information
http://www.lectlaw.com/filesh/qfl04.htm
http://www.irs.gov/taxtopics/tc311.html
http://www.legalzoom.com/legalzip/powerofattorney/poa_procedure.asp?iRefer42
The information provided in this article is the express opinion of the author. Exchangenet is not responsible for the content!
