When an individual needs to grant permission to another party to sign a legal document or handle their financial matters, they may want to consider a power of attorney. These documents are pretty easy to obtain and can be very helpful for those who frequently travel or are on active military duty. It is very important that an individual only grants power of attorney to someone they can trust completely, especially if it is a general power of attorney.
There are two types of power of attorney, general and special. A general power of attorney allows an individual to have the power to authorize or sign on behalf of another person for any matter that may require their signature or permission. This can be for financial matters, medical decisions, business decisions, or any other legal matter.
A special power of attorney allows the agent to only authorize on behalf of another party for specific things. For example, if a married couple is purchasing a house and one of the spouses cannot be at the closing meeting, they may want to obtain a special power of attorney. This will allow one spouse to sign all of the documents for purchasing the house on behalf of both of them. In this situation, the attorney may actually require that the couple obtains a special power of attorney, even if they also have a general power of attorney just to ensure that the other spouse approves of the purchase.
If you have questions about power of attorney, contact our firm today.