What Are The Three Main Types Of Power Of Attorney Forms?

A Power of Attorney is a legal document that grants the person named in it the authority to act on behalf of another. The power is generally used by someone who has been granted permission by the principal (the one who grants the power) to make decisions for him or her.

Three Types of Power of Attorney Documents

When it comes to sample power of attorney form, there are three main types which include General, Limited, and Durable.

General power of attorney

It is a legal document that allows someone to make decisions on behalf of another person. It is the most common type of power of attorney. The person making decisions for the other must be at least 18 years old and mentally competent to do so.

This type of power can be used to make financial decisions, such as paying off debts or buying property. It can also be used to sign contracts and execute deeds or other legal documents.

Limited power of attorney

This is similar to a general power of attorney but only allows the agent to make specific types of decisions on behalf of their principal, such as signing checks or purchasing stocks.

A limited power of attorney form in Oregon expires when its principal dies or becomes mentally incompetent. You can choose to have a limited power of attorney even if the general power of attorney was obtained from the court, but it is usually not recommended because it can be difficult for both parties involved if there is a disagreement over who should be appointed as an agent.

Durable power of attorney

It is similar to a limited power but lasts longer than its limited counterpart—it lasts until death or mental incompetence occurs.

A durable power of attorney can be used to make financial decisions for another person. It can also be used to make healthcare decisions on behalf of the other person. A durable power of attorney lasts for as long as the person who grants the document remains alive or for as long as their estate remains intact. You can choose which form works best for you, depending on your circumstances.