Attorney-In-Fact
An Attorny-in-Fact means a person authorized by a power of attorney document (also referred to as a “POA”) to act on behalf of another individual, either for some particular purpose or for the transaction of business in general.
Authorized Representative
An authorized representative is a person 18 years or older who is authorized to conduct business for an individual.
Conservator
A person appointed by a court of competent jurisdiction to manage the estate and financial affairs of an incapacitated individual.
Family Substitute Representative
A spouse age 18 or older or designated relative age 18 or older who is willing and able to take responsibility for the individual’s personal or financial affairs. Designated relatives other than the spouse who may be substitute representatives are, in this preferred order, the individual’s child, parent, sibling, grandchild, niece or nephew, aunt or uncle.
Guardian
A person appointed by a court of competent jurisdiction to be responsible for the personal affairs of an incapacitated individual, including responsibility for making decisions regarding the person’s support, care, health, safety, habilitation, education, and therapeutic treatment, and if not inconsistent with an order of commitment, residence.
Incapacitated Individual
An individual who, pursuant to an order of a court of competent jurisdiction, has been found to be incapable of receiving and evaluating information effectively or responding to people, events, or environments to such an extent that the individual lacks the capacity to (1) meet the essential requirements of his health, care, safety, or therapeutic needs without the assistance or protection of a guardian; or (2) manage property or financial affairs or provide for his or her support or the support of his legal dependents without the assistance or protection of a conservator.
Incarcerated Individual
An inmate or offender in a Department of Corrections (DOC), local/regional jail, or Department of Juvenile Justice (DJJ) facility
Legal Emancipation of a Minor
A minor who has been declared emancipated by a court of competent jurisdiction. A married minor is not emancipated unless a court has declared the married minor emancipated from his parents.
Power of Attorney
A power of attorney is a legal document that gives one person (the agent or attorney-in-fact) the right to make certain decisions for another person. The broadest of these documents is known as a general power of attorney, though other, more specific POAs can limit the power of an agent to certain topics.
General Power of Attorney (GPOA)
A general power of attorney gives an agent broad authority to act on the person’s behalf in a wide variety of situations, such as signing documents, buying property, or making other legal decisions. Typically, a general power of attorney has four basic qualities:
- A person with general power of attorney has the right to perform most legal acts the principal could perform.
- Unless the document is written to be durable, a GPOA loses power if the principal becomes incapacitated.
- The person who granted the power to someone to be their POA can revoke the document at any point, so long as they are deemed mentally competent.
- By design, a GPOA is revoked after a set time period: either when the person granting the authority becomes incapacitated, or dies.
Durable Power of Attorney (DPOA)
A durable power of attorney is one that remains in effect even if the person granting authority becomes incapacitated allowing the agent to continue making decisions until the person recovers or dies. This type of power of attorney is particularly useful in situations where the person becomes mentally incompetent or physically unable to manage their personal care property or finances such as with an illness or accident. In addition to handling paper transactions, this POA provides authority to make medical decisions and take legal actions.
Limited Power of Attorney (LPOA)
A limited power of attorney grants an agent narrow authority to perform specific actions on behalf of a person. Rather than the broad, catch-all nature of a general power of attorney, this empowers an individual to handle certain tasks outlined within the document—and nothing else. Often, a limited power of attorney is designed to expire after a task or set of tasks has been accomplished by the agent. This could include having someone sell property, close a business deal, or other clearly defined legal responsibilities.
Medical Power of Attorney (MPOA)
A medical power of attorney gives the attorney-in-fact the authority to make health-related decisions in the event of a person’s incapacitation. For instance, you might give your spouse, an adult child, or a close friend medical power of attorney to talk to your doctors and prevent treatments that you don’t want. This type of agent can also make decisions about your overall medical treatment, pay bills, and otherwise act independently in your best interest when you are incapacitated.
Financial Power of Attorney (FPOA)
A financial power of attorney is a legal document that grants an individual (the agent) the authority to manage the financial matters of another person. This type of POA is restricted to financial matters and does not extend to healthcare decision-making or legal matters unrelated to finances.
When establishing a financial POA, it’s important to consider the specific tasks and responsibilities the agent will have with such a power, similar to how you would with a limited power of attorney. These tasks and responsibilities may include:
- Managing bank accounts
- Managing investments
- Managing retirement accounts
- Buying or selling property
- Managing rental properties
- Paying bills and debts
- Filing tax returns
- Making charitable donations
Revocable Power of Attorney
A revocable power of attorney is any other type of POA that can be revoked by the principal at any time. In that sense, a revocable power of attorney is not quite its own type of POA, but instead a condition that can be applied to other types of POAs. Keep in mind that this type of POA can be revoked by the principal for any reason so long as they are deemed mentally competent to do so.
Irrevocable Power of Attorney
An irrevocable power of attorney is special in that it cannot be revoked or terminated by the principal, except in specific situations. Like revocable POAs, an irrevocable power of attorney is less of a distinct type of POA but instead can be applied to other types of POAs.
Often, an irrevocable power of attorney will be used in complex legal situations where the agent needs guaranteed authority for a set period of time. Some examples of such situations include:
- Estate planning: A principal may use an irrevocable power of attorney to ensure that their agent can effectively and continually manage the assets within an irrevocable trust.
- Loans: A financial institution may require an irrevocable power of attorney to be drafted in order to secure a loan.
- Business deals: In large, complex business deals, such as mergers or acquisitions, the involved parties may use an irrevocable power of attorney to maintain equality and guarantee consistent decision-making.
Military Power of Attorney
Military powers of attorney give spouses and loved ones the authority to handle many of the day-to-day tasks faced by service people living outside of the United States. While technically a type of limited POA, a military power of attorney is distinct and common enough to deserve its own conversation. Some examples of how a military POA might be used include:
- A service member is deployed, and a spouse or partner needs to register a newborn in the Defense Enrollment Eligibility Reporting System (DEERS). This is a database of active-duty and retired service members, family members, and others eligible for TRICARE health services.
- A military spouse needs permission to rent, buy, or refinance a home jointly or just in the service member’s name.
- A military spouse needs permission to buy or sell a vehicle jointly or solely owned by a service member.
- A military spouse needs to receive or store household goods even though they aren’t on the ownership paperwork.
- A dependent needs replacement identification while the service member is abroad.
If you are a service person, get a military attorney to help you prepare and sign the appropriate power of attorney. Military legal assistance offices are located on almost every base, ship, and installation. Visit the U.S. Armed Forces Legal Assistance locator to find the office nearest your location.
Definitions for Power of Attorney came from Legal Zoom: LegalZoom Power of Attorney – We Make It Quick and Easy
The other definitions were taken from the Virginia Medicaid’s website.
