What does special power of attorney mean?

A special power of attorney allows a person (the principal) to authorize another individual (the agent) to make legal decisions on their behalf. The agent can act on behalf of the principal only under specific, clearly defined circumstances.

Is it legal to have a power of attorney?

Power of attorney (POA) is a valid and legal document and once signed, the person appointed power of attorney has the legal right to make financial, medical or legal decisions on your behalf. Following just a few steps could help you keep these documents up to date with your needs.

Can a next of kin have a lasting power of attorney?

Many people don’t know that their next of kin has no automatic legal right to manage their spouse’s affairs without a Lasting Power of Attorney in place, so having to make decisions on their behalf can become prolonged and significantly more expensive.

How to choose an agent for a power of attorney?

Since the person you are naming as your “agent” under your DPOA will have very broad powers over your property and legal decisions, it is vital to choose your agent carefully. Use AgingCare’s POA resources as your guide to understanding and obtaining power of attorney.

Can a power of attorney be used to bequeath property?

A power of attorney cannot be used to bequeath property upon the death of the donor. What are the differences between general and specific powers of attorney? A general power of attorney is one that gives the attorney the authority to do anything the donor could do him or herself.

Can a co-agent be named on a power of attorney?

An alternative to naming co-agents is for the power of attorney document to name agents in sequence. The first-named agent acts alone, but if she cannot serve for some reason, the next person on the list will serve.

What can you do with a power of attorney?

In a power of attorney, you name someone as your attorney-in-fact (or agent) to make financial decisions for you. The power gives your agent control over any assets held in your name alone.

How to file a power of attorney in Colorado?

Colorado Power of Attorney Forms. Colorado power of attorney forms allow you to choose an agent to make monetary or health care decisions on your behalf. There are six forms (Durable, General, Limited, Medical, Tax), and Vehicle (DMV)) which can be downloaded in Adobe PDF (.pdf) or Microsoft Word (.doc).

Can a power of attorney have more than one agent?

Naming more than two agents can get cumbersome and make communication difficult. An alternative to naming co-agents is for the power of attorney document to name agents in sequence. The first-named agent acts alone, but if he or she cannot serve for some reason, the next person on the list will serve.