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A legal authorization to act on behalf of someone.
A "limited" power of attorney can be granted for only one occurrence or transaction, or for a limited number of situations; for instance: You may have an agent that you trust, and have given the authority to make investment decisions for you, or possibly a friend or relative you give the legal right to manage all of your affairs while you travel abroad.
A full power of attorney is usually granted when someone is mentally incapacitated, (possibly comatose, insane, or terribly affected by dementia or Alzheimer's), or is physically unable to go to functions to represent themselves.
An extreme example of a time-limited power of attorney is reflected in the parent relationship to minor children, especially in the areas of education, medical care, and finance.
A "limited" power of attorney can be granted for only one occurrence or transaction, or for a limited number of situations; for instance: You may have an agent that you trust, and have given the authority to make investment decisions for you, or possibly a friend or relative you give the legal right to manage all of your affairs while you travel abroad.
A full power of attorney is usually granted when someone is mentally incapacitated, (possibly comatose, insane, or terribly affected by dementia or Alzheimer's), or is physically unable to go to functions to represent themselves.
An extreme example of a time-limited power of attorney is reflected in the parent relationship to minor children, especially in the areas of education, medical care, and finance.
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