A Power of Attorney is used when you (the "Principal") want someone else (the "Attorney-in-Fact") to take legal actions for you. There are two types of "financial" Powers of Attorney, 1) the general Power, and 2) the limited/springing Power of Attorney.

General or Limited Power of Attorney: The "financial" Power of Attorney is useful during the lifetime of the maker, but it lapses at the death of the maker.

It can be unlimited in scope ("general") or limited in scope or duration (a "limited" power). It can be made "durable" (not revoked by disability of the maker and/or lapse of time).

It can be immediately effective, or it can "spring" into effect upon the occurrence of a defined event (such as the disability of the maker, or the written determination of a physician that the maker is incompetent or unable to act).

WARNING!: IF YOU HAVE A POWER OF ATTORNEY WHICH DOES NOT SPECIFICALLY GIVE THE AUTHORITY TO SELL YOUR REAL ESTATE, YOUR ATTORNEY-IN-FACT MAY NOT BE FULLY AUTHORIZED TO DO WHAT NEEDS TO BE DONE FOR YOU.

We would be happy to review your Power of Attorney to you so that you know how effective your Power of Attorney is.

WARNING: The foregoing information is presented for general illustration purposes only, and is NOT necessarily complete nor is it intended to be relied on as legal advice. Each person's estate needs to be planned on an individual basis!