Note that if a person wishes to name TWO PERSONS within a single document to act with Power of Attorney on his or her behalf, Standard Legal offers that option within the Durable Power of Attorney. REVOCATION OF POWER OF ATTORNEY – This document allows the user to end a Power of Attorney relationship at will, giving back to the Principal all legal authority to again handle the business and/or financial affairs previously assigned through the Power of Attorney document. This document is appropriate for individuals who cannot take certain actions on their own because they are unavailable to do so or to do so would result in some inconvenience. if the action or business is not taken or engaged in by the date set forth on the document, the authority to do the same lapses. This document differs from the Durable Power of Attorney in two ways: 1) the authority granted under this document is limited to the tasks, business or transactions specifically stated in the document 2) the authority granted under this document is limited in time, i.e. REVOCABLE LIMITED POWER OF ATTORNEY – Used to permit a third party (an “Attorney-in-Fact”) to conduct or engage in the specific business or transaction stated on the document on behalf of the Principal, the person signing the form. For example, an elderly or disabled individual who can no longer leave his or her residence to conduct certain business an individual who may be leaving the country for a lengthy period of time etc. This document is appropriate for individuals who do not wish to engage in such transactions, or can no longer do so. All of these actions are done in the name of the Principal, using money or assets owned by the Principal.
This business includes such actions as buying, selling or transferring property, signing documents, purchasing assets, opening bank accounts, buying stocks, etc. REVOCABLE DURABLE POWER OF ATTORNEY – Used to permit a third party (an “Attorney-in-Fact”) to conduct or engage in almost any form or type of business on the part of the Principal, the person signing the form. There are three Power of Attorney documents within this software package: HUNDREDS OF THOUSANDS OF SATISFIED CUSTOMERS SINCE 2002.
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