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Any power or authority granted to my agent under this document shall be limited to the extent necessary to prevent this power of attorney from causing (i) my income to be taxable to my agent, (ii) my assets to be subject to a general power of appointment by my agent, and (iii) my agent to have any incidents of ownership with respect to any life insurance policies that i may own on the life of my agent.
Special power of attorney i,__________________________ , residing at ____________________, _____________________________, _____________________, hereby appoint _______________of___________ , ______________, as my attorney-in-fact (“agent”) for the purposes expressed herein. Special power of attorney is a written authorization that grants an agent the authority to act on behalf of the principal under specified circumstances.
Not all powers of attorney are the same in this article, we’ll discuss what a power of attorney is, the difference between a special and a general power of attorney, and whether you can make either power of attorney “durable.
A special power of attorney is a legal document written by the so-called 'principal' that details the specified and specific wishes and directions for an 'agent', 'attorney-in-fact' or 'attorney' to carry out.