What are the different types of powers of attorney?
A Power of Attorney (POA) is an instrument used in Washington to grant another person legal authority to act on your behalf. In Washington, there are two primary types of powers of attorney: General and Limited. General Power of Attorney: This type of Power of Attorney grants broad authority to a trusted individual. This means that the individual (known as the “attorney-in-fact”) can act on your behalf for a wide range of matters, such as handling financial matters, entering into contracts, conducting business transactions, and making decisions on any matters that you have previously authorized. Limited Power of Attorney: This type of Power of Attorney grants authority to an individual for a limited purpose and for a specific period of time. For example, someone might grant a Limited Power of Attorney to a trusted friend to handle a real estate transaction or medical decision-making. Durable Power of Attorney: This type of Power of Attorney grants another individual authority to act on your behalf even if you become incapacitated or unable to make decisions. This type of Power of Attorney usually comes into effect if you become unable to make decisions for yourself due to illness or injury. Springing Power of Attorney: This type of Power of Attorney is similar to a Durable Power of Attorney, but instead of coming into effect when you become incapacitated, it only comes into effect after a specific event or condition occurs. A Power of Attorney can be a critical tool for someone who wants to plan ahead and ensure that their affairs are taken care of even if they become incapacitated. It is important to consider all of the different types of Power of Attorney before deciding which one best meets your needs.
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