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A limited power of attorney is a legal document that permits someone to act on your behalf in specific situations, such as during your absence for important business transactions or for ongoing financial decisions without constant involvement. It is important to note that this power has limitations. The principal grants authority to an agent to perform tasks usually reserved for them, such as signing documents. The principal does not need to be an attorney to establish this power. Limitations include a defined duration, as the principal can specify how long the arrangement will be valid. This document can be particularly beneficial for individuals who anticipate being unavailable for essential decisions.