POAs are written by an attorney to cover exactly what the person conferring the POA onto another WANTS. They may want them to have POA only for certain decisions and not for others. This is taken care of in the writing of the document.
POAs pulled offline and witnessed by a notary are often NOT ACCEPTED by banks, as you can imagine. A bank is trusted with protecting your money. If anyone can pull something offline, get you to sign it, and have someone there that simply witnessed your signature it really says nothing about your competency or wishes.
Some POAs allow you to do everything including managing all financials, selling homes, and etc. Some a specific as to duties.
Any attorney can explain and there's just a ton of stuff online about POAs. But like I said, if you need this for banking and being added as POA on accounts, do go to the institution and ask exactly what they require in a POA.
There is springing and durable. Springing is not very reliable with certain institutions such as banks. There is generally not a set period of time associated with each.
There is responsibility with POA so if one is not serious about the title and all it represents for the duration of time ( could be the lifetime ) of the person involved it is best not to take this on. I had this for my mother. I paid her bills,dealt with doctors,filed POA papers with banks,lawyers,credit card companies etc. I also dealt with her LTC company on her behalf. I could not have done most of this without durable POA.
Limited can pertain to the areas where the person is authorized to act. My brother gave me a limited POA when I was his rep when he was renting his house in my town. It was limited to matters pertaining to the real estate and rental agreements concerning his house, it was also durable in that it had no time limit, it was good until revoked. When I did the POA for my mom I used a State form that had a list of authorizations you could check off as to which were applicable, so you could limit it to certain areas only.
POAs pulled offline and witnessed by a notary are often NOT ACCEPTED by banks, as you can imagine. A bank is trusted with protecting your money. If anyone can pull something offline, get you to sign it, and have someone there that simply witnessed your signature it really says nothing about your competency or wishes.
Some POAs allow you to do everything including managing all financials, selling homes, and etc. Some a specific as to duties.
Any attorney can explain and there's just a ton of stuff online about POAs. But like I said, if you need this for banking and being added as POA on accounts, do go to the institution and ask exactly what they require in a POA.
There is responsibility with POA so if one is not serious about the title and all it represents for the duration of time ( could be the lifetime ) of the person involved it is best not to take this on. I had this for my mother. I paid her bills,dealt with doctors,filed POA papers with banks,lawyers,credit card companies etc. I also dealt with her LTC company on her behalf. I could not have done most of this without durable POA.