Business Magazine

What is a General Power of Attorney

Posted on the 09 February 2015 by Jason Cherrington

Wills FAQ Book
A General Power of Attorney is not the same as a Lasting Power of Attorney.

A lasting Power of Attorney (LPA) is required if a donor loses mental capacity to make decisions for themselves. There are two different types of LPA, one to manage a persons Property & Financial Affairs and another to manage their Health & Welfare.

A General Power of Attorney is more of a short term arrangement providing a limited grant of authority to deal with a donors financial affairs, but does not continue if a donor loses mental capacity to make decisions for themselves.

The Donor of a General Power of Attorney decides whether they want it to run for a fixed time period or until revoked by Deed of Revocation.

In a lot of cases a General Power of Attorney is all that is required to give temporary control to someone when a donor is going to be temporarily absent or in the event of an accident .

For example, when an elderly person wants to allow family members to operate their bank accounts even though they are still mentally competent to do so themselves.

Or

If some one is in the middle of a house purchase, during which time they have to travel abroad for an extended period and requires purchase transaction to be completed whilst they are away.

If your considering making a General Power of Attorney, make sure you speak to a professional provider such as a Professional Will Writing Company or Solicitor for advice on the best way to meet your needs and ensure you are provided with a fixed fee quotation for the service before proceeding.

Related Links

What Is A Lasting Power of Attorney
What If I am Unable to Manage my Affairs
Avoiding Invalid powers of Attorney

Catagory: Lasting Power Of Attorney

You Might Also Like :

Back to Featured Articles on Logo Paperblog

These articles might interest you :

  • You Belong: Shawn Austin Interview

    Belong: Shawn Austin Interview

    We caught up with Shawn Austin at the SiriusXM Canada offices in Toronto on a busy media day for the Vancouver singer and sat down to talk about his career and... Read more

    The 16 October 2018 by   Phjoshua
    LIFESTYLE, SELF EXPRESSION
  • Mattel Introduces Doctor Who Barbie

    Mattel Introduces Doctor Barbie

    Most of what I’ve seen from Mattel recently has been underwhelming. However, the announcement of their newest doll, the 13th Doctor based on the long running... Read more

    The 16 October 2018 by   Ashley Brooke, Kewpie83
    CULTURE, FAMILY, SELF EXPRESSION
  • UNIBEN Admission List Out – 2018/2019

    UNIBEN Admission List for the 2018/2019 academic session is now out on the school portal. All candidates who applied for admission in the university are hereby... Read more

    The 16 October 2018 by   Naijapary
    SOCIETY, A-CLASSER
  • Doll Shows 101: Etiquette

    Doll Shows 101: Etiquette

    For a doll collector, attending a doll show can be as exciting as stepping through the gates of Walt Disney World. Even the most narrowed minded collector is... Read more

    The 16 October 2018 by   Ashley Brooke, Kewpie83
    CULTURE, FAMILY, SELF EXPRESSION
  • Neanderthal Cave Art is Fake News?

    Life in a Neanderthal cave was surprisingly human. They built structures, created jewellery, and cared for each other. To top it all of, we recently learnt... Read more

    The 16 October 2018 by   Reprieve
    BIOLOGY, SCIENCE
  • Is the Tide Turning in Australian Dietary Advice?

    Tide Turning Australian Dietary Advice?

    Has the Dietitians Association of Australia (DAA) had a change of heart? Just last month, we reported that the DAA was heavily influenced by sponsorships ... Read more

    The 16 October 2018 by   Dietdoctor
    DIET & WEIGHT, HEALTH, HEALTHY LIVING, MEDICINE
  • Yahoo Boy On The Run After Chopping off Old Man’s Head and Manhood in Benin...

    Yahoo After Chopping Man’s Head Manhood Benin (Graphic Photos)

    A Yahoo Boy identified as Bino has disappeared into the thin air after beheading a man for ritual purpose in Ayogwiri community Benin . Read more

    The 16 October 2018 by   Naijapary
    SOCIETY, A-CLASSER

Magazines