Difference between Power Of Attorney and Durable Power Of Attorney
A power of attorney is a document that allows someone to act on behalf of a grantor. Sometimes, a grantee enjoys infinite authority but in some cases a grantor permits the representative to act with some limitations. For example, sometimes a person can supervise the dealing of a property but he/she cannot sale or lease that property.
Similarly, grantor authorises a person to administrate some commodity for a limited time period and the permission becomes invalid after that period of time. For instance, you have a house in some other state but you cannot travel to complete all the paperwork. In such situations, you can nominate someone to represent you in front of the relevant authority. However, the authority of grantee depends on the nature of power of attorney you give that person.
At this point, a question comes into mind if there are several types of power of attorney. If yes then what is the main difference between them. There are two types of power of attorney documents, general and durable.
As the name indicates, a general or regular power of attorney becomes invalid when its purpose is fulfilled. It also ends in case of the death of grantor. On the other hand, a durable power of attorney remains effective even if the grantor is out of action. It remains valid until the grantor declares it void.
Moreover, a general power of attorney can be transformed into durable power of attorney by making some legal changes in the document. However, durable power of attorney has the status of an ultimate document and one need to formulate the document again to make any changes.
There is also a difference in the methods of their termination as general power of attorney can be terminated without any legal process whereas the story is entirely different in case of durable power of attorney.
Instructions
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General power of attorney:
A regular power of attorney is a documented proof of somebody’s right to represent the grantor in his/her absence. It can be about anything like business transactions, financial issues, property, health or even making personal decisions. This type of permission turns invalid if the grantor is incapacitated or dies.
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Durable power of attorney:
A durable power of attorney grants the representative relatively more authority and he/she can use that permission even if the grantor goes out of the scene. However, this document also becomes ineffective in case of the grantor’s death.
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