Powers of Attorney
Two major types of powers should be considered: Financial and Health Care (Living Will). A financial power of attorney attends to all aspects of money, trusts, wills, investments, legal proceedings, income, taxes, gifts, and property to name a few. A living Will or Advanced Health Care Directive (AHCD) provides all aspects of how a principal expects life to be maintained or discontinued.
These powers are typically classified as general, durable, springing, or limited. A power is said to be durable when the agent continues to act on behalf of the principal when said is deemed unable to make decisions regarding health care or finances. A power may be springing at a specified future time or subsequent incapacity of the principal. A limited power is typically used for real estate transactions where the principal cannot be present and such has an expiration date set forth in the power. However, all powers expire when the signer does as well.