General Power of Attorney Forms
A general power of attorney (GPOA) form enables a person (principal) to authorize an agent to manage their financial affairs. It is non-durable, meaning that if the principal becomes mentally incapacitated, the power of attorney becomes invalid and cannot be used.
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What is a General Power of Attorney (GPOA)
A general power of attorney allows another person, called the agent, to make specific financial decisions for the principal. This document can be tailored to fit the principal’s unique financial requirements.
Powers Granted:
- Authority to make or receive payments;
- Ability to buy, lease, or sell property;
- Manage bank account transactions;
- Handle vehicle ownership or registration;
- Make gifts;
- File tax returns;
- Borrow or lend funds;
- Sign agreements;
- Operate a business;
- Manage insurance claims;
- Make legal choices;
- Access a safe deposit box.
The Significance of POA
