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What is a statutory power of attorney in Colorado?

This power of attorney authorizes another person (your agent) to make decisions concerning your property for you (the principal). Your agent will be able to make decisions and act with respect to your property (including your money) whether or not you are able to act for yourself.

What is a durable statutory power of attorney in Colorado?

A Colorado durable statutory power of attorney form allows a person to select an agent to handle financial affairs on their behalf. The agent will hold this title until the death of the principal unless revoked.

Is a statutory power of attorney a durable power of attorney?

An important component of an estate plan is a statutory durable power of attorney, often called a general power of attorney. This power of attorney allows you to name an agent or agents to carry on business-type activities on your behalf if, for any reason, you are not able to do so yourself.

What are the three different kinds of power of attorneys?

In California, there are four main types of POAs, each offering a specific scope of decision-making power: general, durable, limited, and medical. Understanding these distinctions is crucial for selecting the POA that best suits your individual needs: General Power of Attorney.

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