Special Power of Attorney

In contrast to the general power of attorney, a special power of attorney only grants the agent the authority to act on your behalf in a specific matter. The agent's responsibility and authority does not extend beyond this matter, as specified in the contract. These situations are as broad in scope as those which to which a general power of attorney apply, and encompass all matters legal and financial. For example, a special power of attorney allows the attorney-in-fact to act on your half in the:

  • purchase of real estate,
  • sale of real estate,
  • management of rental property,
  • management of a business interest,
  • hiring of professional assistance,
  • purchase of US or foreign securities,
  • sale of the same,
  • filing of taxes,
  • collection of debt,
  • accessing of safety deposits,
  • conduct of banking transactions,

and so on. A special power of attorney is useful when you are unable to conduct your own legal and financial affairs, whether due to absence, injury, illness, or age.

See also:

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