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Special or Limited Power of Attorney. A general power of attorney allows an individual the Principal to select an individual the Agent to handle their financial affairs onlyUnlike Durable Power of Attorney the general does not allow the Agent to be able to make decisions on the Principal if he or she is not mentally capable also known as incapacitated due to a coma.
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In this instance the agent has specific powers limited to a certain area.
. This arrangement designates another person to act on the principals behalf and includes a durable clause that maintains the power of attorney after the principal becomes incapacitated. For this category a Power of Attorney Form can either be financial medical or educational. A total of 29 states have enacted versions of the Uniform Power of Attorney Act including Alabama Arkansas Colorado Connecticut Georgia Hawaii Idaho Iowa Kentucky Maine Maryland Montana Nebraska Nevada New Hampshire New Mexico North Carolina Ohio Oklahoma Pennsylvania.
STATE OF COLORADO STATUTORY FORM POWER OF ATTORNEY Page 3 of 6 ___ Create amend revoke or terminate an inter vivos trust ___ Make a gift subject to the limitations of the Uniform Power of Attorney Act set forth in section 15-14-740 Colorado Revised Statutes and any special instructions in this power of attorney. Free General Power of Attorney Forms. The one thing about the durable form that separates it from the rest is that it remains legal in the event the person being represented can no longer.
According to main purpose. Free Durable Financial Power of Attorney Forms. A POA is valid and durable as soon as its signed.
Durable Power of Attorney. A Durable Power of Attorney Form is one that becomes effective even after the principal becomes mentally incompetent but it can become effective at any point in time specified by the principal. A durable power of attorney allows you to handle another persons financial decisions on their behalfAll decisions made must be to the benefit of the person being represented.
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