Powers of attorney are used throughout the legal field for various different reasons. There are different types of powers of attorney, and you should understand the distinctions so that you can make informed decisions. With this in mind, let s look at the difference between general and limited powers of attorney. General Power of Attorney With a power of attorney, the person who is bestowing the power is called the principal or grantor. The grantor names an agent or attorney-in-fact in the document. The attorney-in-fact can act on behalf of the grantor in a legally binding manner. A general power of attorney would give the agent a great deal of latitude. For the most part, the agent could enter into any legal agreement that the grantor can enter into on his or her own. Without question, this is a great deal of power to give to another person. If you want to grant a general power of attorney, you should certainly be discerning when you are selecting an agent. Limited Power of Attorney
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What Is the Difference Between a General and a Limited Power of Attorney?
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