By Type (9)

Durable ($) Power of Attorney – To grant power to bank accounts, real estate, and any other financial-related acts. The powers are durable which means the form remains valid even if the principal should become mentally incompetent.

General ($) Power of Attorney – Grants identical financial powers as the durable version. Although, the general power of attorney is no longer valid if the principal becomes mentally incompetent.

IRS Power of Attorney (Form 2848) – To hire or allow someone else to file federal taxes to the Internal Revenue Service on your behalf.

Limited Power of Attorney – For any non-medical power. This is common for one-time instances such as picking up mail, borrowing a vehicle, or staying at someone else’s home.

Medical Power of Attorney – Referred to as an “Advance Directive,” which allows someone to act as a health care surrogate and make decisions based on the patient’s wishes.

Parental (Minor) Power of Attorney – To give health and educational powers to someone else over the caretaking of one’s child.

Real Estate Power of Attorney – For the buying, selling, renting, or occupying someone else’s property.

Revocation Power of Attorney – To cancel or void a power of attorney document.

State Tax Power of Attorney – Just like IRS Power of Attorney except for State Tax purposes. Elect someone else to handle the filing of personal and corporate tax records to the State’s Dept. of Revenue.

How to Get Power of Attorney (5 Steps)

An individual may get power of attorney for any type in five (5) easy steps:

Step 1 – Choose an Agent

Select and ask someone that you trust if they would like to be your “Agent” or “Attorney-in-Fact”. Especially for a durable power of attorney, the agent selected should be someone you have trusted most of your life.

Step 2 – Select Your Power of Attorney

Choose from one of the following nine (9) types:

• Durable ($) – Financial only. Remains in-effect if the Principal becomes *incapacitated.
• General – Financial only. It does not remain in effect if the Principal becomes *incapacitated.
• IRS (2848) – Federal tax filing with the Internal Revenue Service.
• Limited – Special activity or task.
• Medical – Health care decision-making only. It becomes active only when the Principal becomes *incapacitated.
• Parental – Minor’s education, health, and everyday care. Most States limit this to a maximum of one (1) year.
• Real Estate – Sale, purchase, or maintaining the property. Mostly used for real estate closings.
• Revocation – To terminate or cancel a current power of attorney document.
• State – Elect someone else to pay state taxes on your behalf (Dept. of Revenue).

*Incapacitation is defined as not being able to make rational and cognitive decisions knowing full-well of the consequences of such decided actions.

Step 3 – Signing Requirements

After completing, you and the Agent(s) selected will need to check the bottom of the form for the requirements for authorization. In most cases, a Notary Public will need to be used or Two (2) Witnesses.