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.
A Broward Florida General Power of Attorney is a legal document that grants someone (the "agent" or "attorney-in-fact") the authority to make financial and legal decisions on behalf of another person (the "principal"). This document is especially important when individuals want to ensure their interests are protected in situations where they cannot act for themselves due to physical or mental incapacity. In Broward County, Florida, there are several types of General Power of Attorney available to cater to specific needs and circumstances. These include: 1. Limited Power of Attorney: This grants the agent authority to act on behalf of the principal for a specific purpose, or within a specific period of time, such as handling a real estate transaction, managing investments, or making medical decisions while the principal is temporarily unavailable or incapable. 2. Durable Power of Attorney: This type of General Power of Attorney remains effective even if the principal becomes incapacitated or mentally incompetent. It allows the agent to continue acting on behalf of the principal in managing financial affairs, paying bills, and making legal decisions. 3. Springing Power of Attorney: This type "springs" into action only when a specific event or condition, such as incapacitation, occurs. Until then, the principal retains full control over their affairs. 4. Statutory Power of Attorney: This is a power of attorney form authorized by Florida law, providing a standardized format and language to ensure compliance with all legal requirements. It grants the agent the authority outlined in the document, which can be general or limited. 5. Medical Power of Attorney: Although not specifically a General Power of Attorney, this type of document allows the principal to appoint an agent to make medical decisions on their behalf in the event they become unable to communicate or make decisions for themselves. It is often used in conjunction with a General Power of Attorney. When creating a Broward Florida General Power of Attorney, it is crucial to consult with a qualified attorney who specializes in estate planning to ensure the document is properly drafted, meets all legal requirements, and reflects the principal's wishes. This legal professional will guide the principal through the process, explain available options, and help implement the necessary safeguards to protect their rights and interests.A Broward Florida General Power of Attorney is a legal document that grants someone (the "agent" or "attorney-in-fact") the authority to make financial and legal decisions on behalf of another person (the "principal"). This document is especially important when individuals want to ensure their interests are protected in situations where they cannot act for themselves due to physical or mental incapacity. In Broward County, Florida, there are several types of General Power of Attorney available to cater to specific needs and circumstances. These include: 1. Limited Power of Attorney: This grants the agent authority to act on behalf of the principal for a specific purpose, or within a specific period of time, such as handling a real estate transaction, managing investments, or making medical decisions while the principal is temporarily unavailable or incapable. 2. Durable Power of Attorney: This type of General Power of Attorney remains effective even if the principal becomes incapacitated or mentally incompetent. It allows the agent to continue acting on behalf of the principal in managing financial affairs, paying bills, and making legal decisions. 3. Springing Power of Attorney: This type "springs" into action only when a specific event or condition, such as incapacitation, occurs. Until then, the principal retains full control over their affairs. 4. Statutory Power of Attorney: This is a power of attorney form authorized by Florida law, providing a standardized format and language to ensure compliance with all legal requirements. It grants the agent the authority outlined in the document, which can be general or limited. 5. Medical Power of Attorney: Although not specifically a General Power of Attorney, this type of document allows the principal to appoint an agent to make medical decisions on their behalf in the event they become unable to communicate or make decisions for themselves. It is often used in conjunction with a General Power of Attorney. When creating a Broward Florida General Power of Attorney, it is crucial to consult with a qualified attorney who specializes in estate planning to ensure the document is properly drafted, meets all legal requirements, and reflects the principal's wishes. This legal professional will guide the principal through the process, explain available options, and help implement the necessary safeguards to protect their rights and interests.
