Power of Attorney

General Power Of Attorney

As mentioned above, a general power of attorney allows much more control than a limited power of attorney. Learn about this type of power of attorney in more detail here.

A general power of attorney gives a named person the right to manage an incapacitated person’s estate with no limitations. A general power of attorney is different from a limited power of attorney in that it is broader in its directions.

A general power of attorney basically has no limitations whatsoever. This means that whoever is given the position of power of attorney is able to usually have almost as much access and abilities as the owner of the assets did before the disability.

Some things that a general power of attorney can allow are the transfer of assets, investments, sales, and more. If you are trying to place someone in this position, remember that a general power of attorney is very broad. This position should only be held by someone that you would trust with your life, because essentially, that is exactly what you are doing—trusting them with your life.

Since the conservator of a general power of attorney is given so much freedom with the estate, their decisions will directly affect you. They are likely to be the ones deciding what nursing home you will be staying in, as well as what happens to all your money, and more.

If you do not know anyone that you feel completely comfortable allowing this much freedom and control of your estate, you can set up several limited powers of attorney instead of one general power of attorney.

This way you will make sure all aspects are covered in case of disability, but no one person will be in charge of everything.