When to use Special Power of Attorney
The future is, in a nutshell, unpredictable. That is why it is critically important to safeguard your interests while doing so remains possible. After all, illnesses can strike without any warning. Accidents can cause injuries in the blink of an eye. Medical conditions currently under control can spiral. These tough realities are not meant to be terrifying, only eye-opening. Due to the fact that every single person is at risk of becoming incapacitated by illness or injury at any time, it is important to put legal, financial and practical safeguards into place in case the worst case scenario suddenly becomes your present reality.
One of the most important safeguards you can implement involves designating a power of attorney. Once named, a power of attorney can exercise decision-making authority on your behalf if/when you are not able to make decisions for yourself due to incapacity or another complicating factor. It is important to note that you can limit this authority as much as you please. If you want to put a power of attorney designation in place for financial, legal, medical, child care and/or business reasons but you want to significantly and specifically limit the authority that your power of attorney is allowed to exercise, you may benefit from drafting a special power of attorney designation.
A special power of attorney, also commonly referred to as a limited power of attorney, is authorized to make specific decisions on an individual’s behalf as outlined in advance by that individual. This form can help you to detail the authority of your power of attorney and make your designated power of attorney official. This specific kind of power of attorney authority is much more circumstantial than a general, medical or financial power of attorney usually is.
Limited Power of Attorney