A limited power of attorney authorizes someone to act on behalf of the principal.
A normal power of attorney in Georgia gives broad authority to someone.
This means they can go make any decisions without restrictions.
But a Georgia limited power of attorney form limits their decision-making capabilities.
The advance directive limits the scope of what they can do on your behalf.
Common reasons to use these advance directives in the state of Georgia are:
- a family member signing closing documents for real estate
- a financial institution making investments for you
- someone making health care decisions for you
- someone selling a motor vehicle for you
- someone making business decisions for you
- someone taking care of any affairs during your travels
- someone getting deployed for the military
- someone becoming incapacitated
- estate planning and/or setting up successor agents
All these scenarios require a POA in Georgia if you’re not available to make decisions.
For example, you would need Georgia power of attorney forms if you are:
- incapacitated and can’t make healthcare decisions
- on military deployment and need someone to manage your financial affairs
- letting a financial advisor make investment decisions for you
- traveling and need someone to make business decisions
- allowing members of your business to make decisions on your behalf
- buying or selling real estate but can’t make it to closing
- buying or selling motor vehicles
- tax preparation for the Georgia Department of Revenue
They are also a great Georgia estate planning tool.
Let’s say you have two children in the state of Georgia.
One is great with finances and the other agrees with your healthcare decisions.
You can give them each a different type of power of attorney.
You can give one child the agent’s authority to manage your financial affairs.
And the other can make healthcare decisions for you.
Neither one can go make decisions that the other has the agent’s authority over.
But you can set it up so they can only make decisions when you become incapacitated.