Limited Power of Attorney (LPOA)

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Definition of 'Limited Power of Attorney (LPOA)'

A limited power of attorney (LPOA) is a legal document that gives someone else the power to act on your behalf for a specific purpose. It's similar to a general power of attorney, but it's more limited in scope.

An LPOA can be used for a variety of purposes, such as managing your finances, making medical decisions, or selling your property. It's important to carefully consider the scope of the LPOA before you sign it, so that you understand exactly what the other person is authorized to do.

To create an LPOA, you'll need to meet with an attorney. The attorney will help you draft the document and make sure that it's properly executed. Once the LPOA is signed, it's important to keep it in a safe place where the other person can access it easily.

If you need to revoke an LPOA, you can do so by signing a written document that specifically states that you're revoking the power of attorney. You'll also need to give a copy of the revocation document to the person who was granted the power of attorney.

Here are some of the key things to keep in mind when creating an LPOA:

* The scope of the LPOA should be clearly defined.
* The LPOA should be specific about the powers that are being granted.
* The LPOA should be signed in front of a witness.
* The LPOA should be dated and kept in a safe place.

If you have any questions about LPOAs, be sure to talk to an attorney.

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