General Power of Attorney Template

A hospital stay, a long trip overseas, or a busy season can leave bills unpaid and paperwork stuck. Before that happens, you can pick one trusted person to step in for you. Here's how to give them that authority the right way.

What This Document Does

A general power of attorney is a written document that gives another person broad authority over your financial and legal affairs. You are the principal. The person you choose is your agent, sometimes called an attorney-in-fact. Your agent doesn't need to be a lawyer.

The word "general" refers to the scope. Instead of covering a single task, the form usually lets your agent act for you in most money and legal matters. Typical powers include:

• Paying bills and managing bank accounts
• Filing tax returns and dealing with tax agencies
• Buying, selling, or managing real estate
• Signing contracts and handling business deals
• Managing investments and retirement accounts
• Dealing with insurance companies and government benefits

You can also narrow these powers. If there's something you don't want your agent to touch, the document can say so.

When People Use One

People typically set up this kind of POA when they need someone else to handle their affairs for a while. Common reasons include:

• Traveling or living abroad for an extended period
• Serving in the military away from home
• Recovering from surgery, an accident, or a long illness
• Selling a home or closing a deal in another city
• Wanting a backup in place as you get older

How It Differs From Other Powers of Attorney

The biggest difference involves what happens if you can no longer make decisions. Traditionally, a general power of attorney stops working if you lose mental capacity, such as after a stroke or with advanced dementia. That's often the moment families need it most.

Cornell Law School's power of attorney definition notes that this authority generally ends at incapacity unless the document is made durable. A durable power of attorney includes wording that keeps it in effect after incapacity. Some states now treat a power of attorney as durable unless it says otherwise, so the rules depend on where you live. If you want your agent's authority to continue, the document should say so clearly.

A few other types serve narrower needs. A limited or special POA covers one task or a set time period, like selling a single car. A springing POA takes effect only after a set event, usually a doctor's finding that you can't decide for yourself. A healthcare POA lets your agent make medical decisions – a financial POA usually doesn't cover health care.

Choosing Your Agent

Your agent will have access to your money and property, so trust matters more than expertise. Many people pick a spouse, an adult child, a close friend, or a professional such as an accountant. The agent must be an adult who is able to manage someone else's affairs.

Look for someone who is honest, organized, and willing to take on the job. It's a good idea to talk with them before you name them. You can also name a backup agent in case your first choice can't serve. If you name two agents, the form should say whether they must act together or can act separately.

Your agent has a legal duty to act in your best interest, keep your money separate from theirs, and keep good records. The CFPB offers guides for managing someone else's money that explain these duties in plain language.

What to Include in the Form

A clear form leaves little room for confusion when your agent shows it to a bank or title company. It typically lists your full name and address, your agent's name and contact details, and any backup agent. It then spells out which powers you grant, any limits, and when the authority starts and ends.

It should also state whether the authority survives incapacity. ConsumerShield's template walks you through each of these sections, so you can fill in your details without starting from a blank page.

Signing and Making It Valid

Signing rules vary by state. Many states require notarization, and some also require one or more witnesses. If your agent will handle real estate, the county may need a notarized copy recorded with its land records office. Check your state's rules before you sign.

Once it's signed, keep the original somewhere safe and give copies to your agent. Some banks and brokerages ask to review a power of attorney before they accept it, so it might help to contact them ahead of time.

When the Authority Ends

Your agent's authority usually ends when you revoke it, when you die, or when an end date or task written into the form is reached. It can also end if your agent dies or can no longer serve and no backup is named. A non-durable version also ends if you become incapacitated.

To cancel it, you can typically sign a written revocation and give copies to your agent and any business that relied on the original. In some states, a spouse's authority as agent ends automatically after a divorce.

Your agent also can't act after your death – that's the job of the executor named in your will. If you'd rather have authority that lasts through illness or covers just one task, explore other power of attorney templates on ConsumerShield.