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The document is a General Durable Power of Attorney that allows a designated agent to make decisions regarding the principal's property, effective even if the principal becomes disabled or incompetent. It outlines the powers granted to the agent, including financial and property management, while excluding health care decisions. The document also provides options for naming successor agents, specifying limitations on authority, and includes legal responsibilities for the agent. It emphasizes the importance of selecting a trustworthy agent and suggests seeking legal advice before signing.

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Which is better, a durable power of attorney or a General Power of Attorney?

Choosing between durable and general depends on what you need for the future. We suggest talking to an estate planning lawyer to see which one is right for you. In short, durable powers of attorney give better protection if someone cant make decisions and keep decision-making going.

What is the difference between power of attorney and financial power of attorney?

A power of attorney allows one person to give legal authority to another person to act on their behalf. A medical power of attorney allows for another person to make medical decisions for you, while a financial power of attorney authorizes another person to make financial decisions for you.

What is a durable power of attorney in Utah?

Durable power of attorney means that the agent can act even if the principal becomes disabled or incapacitated. A power of attorney created under Utah law is durable unless it expressly states that it is terminated by the incapacity of the principal.

What are the disadvantages of a durable power of attorney?

One major downfall of a POA is the agent may act in ways or do things that the principal had not intended. There is no direct oversight of the agents activities by anyone other than you, the principal. This can lend a hand to situations such as elder financial abuse and/or fraud.

What is the best form of power of attorney?

Choose a General Power of Attorney if you need someone to manage various aspects of your affairs. Opt for a Special Power of Attorney when you require someone to handle specific transactions, offering more control and lower risk of misuse.