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Commonly Asked Questions about Limited Authority Legal Documents

Under a limited power of attorney agreement, the agent can only act and make decisions on specified activities, and only to the extent that the principal authorizes. A principal does not need to choose a lawyer to be their agent; attorney in fact differs from an attorney at law.
A power is called limited if the holder of the power cannot exercise the power in favor of herself, her estate or the creditors of her estate. Because it is limited, the assets subject to the power dont get added to the power holders estate for estate tax purposes.
The durable POA remains in effect even if the principal becomes incapacitated or unable to make decisions for themselves. On the other hand, a limited POA or springing POA only takes effect under certain specified circumstances, such as when the principal becomes incapacitated.
For example, if you are selling your home and need someone to handle the real estate transaction while you are on vacation, a limited power of attorney lets you restrict the authority of your agent either to real estate transactions in general or specifically limit its use only to the sale of your house.
A Durable Power of Attorney (DPOA) allows you to appoint a trusted person as your agent to manage your financial, legal, and healthcare decisions if you are unable to do so yourself. Unlike a standard Power of Attorney, it remains in effect if you become mentally incapacitated.
A general power of attorney ends if the principal becomes mentally or physically disabled or incapacitated. Limited or special power of attorney: A limited or special power of attorney gives the agent the authority to handle a specific matter or for a limited period of time.
Limited powers of attorney are valid for no more than 90 days, except those used by lessors, which are good for periods up to one year.