How many types of power of attorney are there and do they expire?
How many types of powers of attorney are there and what is each one's duty? Also does the power of attorney expire at death?
There are basically two types of powers of attorney: a power of attorney for finances, that empowers a person as an agent to manage another person's money matters, and a power of attorney for healthcare, also called an advance directive, that empowers another person to supervise or direct medical care for another person.
While both types of powers of attorney usually take effect when the person who made them lacks legal capacity to handle his or her own financial or medical affairs, they may also be tailored to take effect immediately when made"”or at a specific date in the future.
The powers, rights and duties of the agent appointed in both types end with the death of the person who made the document.
For more on powers of attorney for finances, go to www.caring.com/financial-power-of-attorney. And for more on powers of attorney for healthcare, see www.caring.com/articles/living-wills.