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While a special power of attorney gives the agent authority for a limited set of actions under a restricted set of circumstancessuch as buying or selling a home, withdrawing money from an account, or running a businessa general power of attorney is more broad.
A Limited Power of Attorney (also called a Specific or Special Power of Attorney) allows the person who has the POA, the holder, to legally act on behalf of someone else, the principal, for a specific timeframe, scope or document.
Special power refers to a type of power that is limited in its scope and authority. It can be thought of as a specific ability or privilege that someone has, such as the power to make certain decisions or take certain actions.
How to fill out a limited power of attorney form Part 1: Specify who is the principal (you) and who is the agent (who will act on your behalf). Part 2: Describe the powers you (the principal) are assigning to your agent. Part 3: Define the timescale i.e. when will the power of attorney be effective?
When someone makes you the agent in their power of attorney, you cannot: Write a will for them, nor can you edit their current will. Take money directly from their bank accounts. Make decisions after the person you are representing dies. Give away your role as agent in the power of attorney.
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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.
Who Should Be Your Agent? You may wish to choose a family member to act on your behalf. Many people name their spouses or one or more children. In naming more than one person to act as agent at the same time, be alert to the possibility that all may not be available to act when needed, or they may not agree.

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