A registered document in which one person (the principal) appoints another person to act as an agent on his or her behalf, thus conferring authority on the agent to perform certain acts or functions on behalf of the principal.
- General Power of Attorney
- Limited Power of Attorney
General Power of Attorney:
General Power of attorney can have power to access to handling banking accounts, Signing checks, selling, selling property and assets like stocks and filling taxes etc.,
Limited Power of attorney:
In this case Limited power attorney explicitly states that only allowed to manage the principal’s retirement accounts. Limited Power of Attorney may also have a limited period of time.