Sunday, December 18, 2011

What is the difference between General Power of Attorney and Durable Power of Attorney

What is the difference between General Power of Attorney and Durable Power of Attorney?

General Power of Attorney grants power from one person (usually known as the "Principal") to another person (usually known as the "agent" or "Attorney-in-Fact") for "all powers granted by law" until the principal becomes incapacitated or disabled.

Durable Power of Attorney grants power from one person (usually known as the "Principal") to another person (usually known as the "agent" or "Attorney-in-Fact") for "all powers granted by law" even if the principal becomes incapacitated or diabled.

See the major difference (only difference) is that when the principal becomes not in a sound mind anymore, the general power of attorney becomes void but the durable is still A-okay.
Example: Grandma gets Alzheimer's and cannot make decisions for herself anymore. The first tall-tail sign is when they start subscribing to all those non-profits in Africa, (At least it was for my grandmother).

Download Power of Attorney Forms at http://powerofattorneyform.com

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