Powers of Attorney

Question 1

What are the two types of powers of attorney?

Answer 1

General
-> the agent can handle all affairs when the principal is unable to do so

Special
-> the agent’s powers are limited to a specific function and/or duration

Question 2

What does it mean for the power of attorney to be a durable power of attorney?

Does the agent owe fiduciary duties?

What is the agent liable for?

When are the powers of attorney revocable/

Answer 2

Agency continues until the death of principal, even if the principal becomes incapacitated
-> majority of states presume power is durable

Yes to fiduciary duties

Only liable for intentional misconduct

They are removable by the principal at any time.