This is a legal authorization that is limited in scope. Through this agreement, you give someone else to authority to act on your behalf in legal and financial matters. The individual can sign agreements, approve payments and do more on your behalf. The exact privileges will depend on how you create the agreement.
A nondurable POA can be helpful in multiple situations. Generally speaking, it can make sense to use one if you are unable or unwilling to be present physically for financial and legal tasks. eSignatures are becoming more available, and they can allow you to conduct business from anywhere, but there are many situations that still require physical, or “wet,” signatures. Employing a nondurable POA can be a convenient solution in such cases.
If you’re planning to move, which may require you to sign a rental agreement in the area where you would be living. Until you’re there, you can’t physically sign, and mailing documents might not be feasible. A nondurable POA granted to an individual in your future hometown could help you complete the agreement.
You might be out of the country when somebody within the U.S. needs to sign a document or complete a financial transaction on your behalf. You could authorize a nondurable POA during your time abroad and set the authorization to end automatically on the date of your return.
A nondurable POA has more limitations than a durable power of attorney. For example, with any power of attorney, you can revoke or change the powers granted at any time using specific legal procedures, but with a nondurable POA, there are additional triggers that can bring the arrangement to an end.
This goes into effect as soon as the document is signed and expires if/when you are declared mentally incompetent or die, whichever comes first. You may revoke a Non-Durable Power Of Attorney at any time.
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