Agency is a relationship based on an agreement authorizing one person, the agent, to act for another, the principal. For example an agent may negotiate and make contracts with third persons on behalf of the principal. Actions of an agent can obligate the principal to third persons. Actions of an agent may also give a principal rights against third persons.
An agency can be created for the purpose of doing almost any act the principal could do. However, there are some acts that must be done in person and cannot be done by an agent. Examples would be: testifying in court for another individual, making a will, and voting.
A general agent is authorized by the principal to transact all the affairs of a particular kind of business. For example, a person appointed as manager of a store is a general agent.
A special agent is authorized by the principal to handle a particular business transaction or perform a specific act. For example, a specific power of attorney appointing an agent (attorney-in-fact) to sell a particular piece of real estate or a certain car would be the appointment of a special agent.
A universal agent is authorized by the principal to do any act that can be delegated to a representative. An example would be giving a person a general power of attorney. This form is such a general power of attorney.
Nebraska General Power of Attorney is a legal document that grants an individual, known as the "principal," the ability to designate another person, referred to as the "attorney-in-fact," to act on their behalf and make important decisions related to their financial, legal, and personal matters. The key purpose of this document is to ensure that the principal's interests are represented and protected, especially in situations where they may not be able to handle their affairs independently. A Nebraska General Power of Attorney provides the attorney-in-fact with broad authority to manage various aspects of the principal's life. These powers typically include financial transactions, real estate transactions, banking, tax matters, insurance claims, litigation, and the ability to engage in contracts. However, it is important to note that the specific powers granted can be customized and tailored to suit the principal's preferences and needs through the inclusion of specific clauses. Different types of Nebraska General Power of Attorney may exist to address specific circumstances: 1. Durable Power of Attorney: This type of power of attorney remains in effect even if the principal becomes mentally incapacitated. It ensures that the selected attorney-in-fact can continue to act and make decisions on behalf of the principal, safeguarding their interests during their incapacity. 2. Limited Power of Attorney: In some instances, the principal may only require an attorney-in-fact to perform specified tasks or make decisions within a defined scope. A limited power of attorney provides authorization for these specific actions, while not granting broader powers. 3. Springing Power of Attorney: This type of power of attorney becomes effective only when a specific triggering event occurs, such as the principal's incapacity or absence. It offers a way to ensure that the attorney-in-fact can step in to handle affairs when necessary. 4. Medical Power of Attorney: While not a Nebraska General Power of Attorney, it is essential to mention the significance of a medical power of attorney. This document allows the principal to designate an individual to make medical decisions on their behalf if they become unable to do so. It specifically covers healthcare-related decisions. Drafting and executing a Nebraska General Power of Attorney should be done with the assistance of an experienced attorney to ensure that all legal requirements are met and that the document accurately reflects the principal's intent. It is important to regularly review and update the document, as personal circumstances may change over time.Nebraska General Power of Attorney is a legal document that grants an individual, known as the "principal," the ability to designate another person, referred to as the "attorney-in-fact," to act on their behalf and make important decisions related to their financial, legal, and personal matters. The key purpose of this document is to ensure that the principal's interests are represented and protected, especially in situations where they may not be able to handle their affairs independently. A Nebraska General Power of Attorney provides the attorney-in-fact with broad authority to manage various aspects of the principal's life. These powers typically include financial transactions, real estate transactions, banking, tax matters, insurance claims, litigation, and the ability to engage in contracts. However, it is important to note that the specific powers granted can be customized and tailored to suit the principal's preferences and needs through the inclusion of specific clauses. Different types of Nebraska General Power of Attorney may exist to address specific circumstances: 1. Durable Power of Attorney: This type of power of attorney remains in effect even if the principal becomes mentally incapacitated. It ensures that the selected attorney-in-fact can continue to act and make decisions on behalf of the principal, safeguarding their interests during their incapacity. 2. Limited Power of Attorney: In some instances, the principal may only require an attorney-in-fact to perform specified tasks or make decisions within a defined scope. A limited power of attorney provides authorization for these specific actions, while not granting broader powers. 3. Springing Power of Attorney: This type of power of attorney becomes effective only when a specific triggering event occurs, such as the principal's incapacity or absence. It offers a way to ensure that the attorney-in-fact can step in to handle affairs when necessary. 4. Medical Power of Attorney: While not a Nebraska General Power of Attorney, it is essential to mention the significance of a medical power of attorney. This document allows the principal to designate an individual to make medical decisions on their behalf if they become unable to do so. It specifically covers healthcare-related decisions. Drafting and executing a Nebraska General Power of Attorney should be done with the assistance of an experienced attorney to ensure that all legal requirements are met and that the document accurately reflects the principal's intent. It is important to regularly review and update the document, as personal circumstances may change over time.
