A general power of attorney arrangement is terminated when the principal becomes incapacitated, revokes the power of attorney or passes away.ĭurable Power of Attorney. In this situation, the agent can perform almost any act as the principal, such as opening financial accounts and managing personal finances. (Note: your loved one can also make a separate “health care power of attorney” to give only this power to another individual.)ĪgeLab outlines very well the four types of power of attorney, each with its unique purpose: ![]()
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