What are the types of Power of Attorney?
This POA is in effect when it is signed and remains until the principal becomes incapacitated, such document clearly states that you want your agent to make decisions for you if you are unable to do so.
This power of attorney document is in effect when a specific event takes place and you become incapacitated. The designated moment of the springing or beginning of this POA is clearly mentioned in the document.
This POA becomes effective as soon as it is signed and remains in effect unless it is canceled. It must clearly state that the agent has the power even if you become incapacitated.
A power of attorney template could also be created for a specific transaction such as selling a business, and cancelled when that transaction is completed.
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