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7 yrs ago
general power of attorney is made in respect of ownership of property and special power of Attorney is given to complete any specific task .
7 yrs ago
General Power of Attorney is meant for authorising a person by way of delegation to do or not to do certain things.
7 yrs ago
Before I explain the difference between a general and a special power of attorney, it’s important to first tell what a power of attorney is.
In estate planning, a power of attorney is a legal document that authorizes another person---called an agent---to act on behalf of the person who created the power of attorney---known as the principal---in the event that the principal cannot make those decision his or herself.
Now the difference between general and special power of attorney is.
A general power of attorney gives broad authorizations to the agent. The agent may be able to make medical decisions, legal choices, or financial or business decisions.
A special power of attorney narrows what choices the agent can make. You can even make several different POAs, with different agents for each.
For example, you could create a special power of attorney which only allows your spouse to make medical decisions on your behalf. You could create another POA which would grant a business partner the ability to use certain assets to care for your business in the event you become incapacitated.
In other words, special powers of attorney allow you to be more specific.
7 yrs ago
A General power of attorney gives broad authorization to the agent. It covers a wide range of powers and it is not restricted to any particular work. Whereas, A Special power of attorney narrows what choices an agent can make. It comes to an end once the task or specific act is done and it is always work specific. A Person can authorize the attorney to sell, buy, rent out, open bank accounts, close accounts and file tax returns etc. under the General Powers. But in Special Power of Attorney, only one act among the above mentioned acts is to be performed.