Of course, an individual suffering from Alzheimer’s disease may need a different power of attorney document than a business owner leaving the country and delegating their estate management to an assistant. Military officers leaving the state and delegating the care for their minor kids’ affairs will have different proxy requirements than a single person without any offspring. Thus, each Alaskan resident’s POA needs will differ. Luckily, there are numerous Alaska power of attorney forms to use. Take a look at some of the most common:
General Power of Attorney
This type of power of attorney allows the principal to appoint a chosen individual as their agent to handle all monetary and business affairs – that is, everything concerning financial aspects of the grantor’s life. Nevertheless, if the grantor becomes disabled or dies, this POA loses all its legal power.
Durable Power of Attorney
The following proxy form for the citizens of Alaska also endows the allocated private attorney to act in the principal’s name in particular cases and circumstances. It is called “durable” because it doesn’t lose its authorization even after the proxy creator becomes incapacitated.
Limited Power of Attorney
Such a type of Alaska POA implies that the agent’s powers are limited by the grantor (in written form). In the prevailing majority of situations, the attorney-in-fact will be presented with the possibility to monitor and manage finance-related issues and make health-involved decisions. Yet, they won’t be granted the power to purchase or sell real estate or businesses. By analogy with the general power of attorney, limited POA ceases to exist upon the grantor’s demise.
Medical Power of Attorney
This form of proxy is often called “advance directive.” It is used when a person becomes terminally ill or works a high-risk job, not only by the people who have elderly parents with senile dementia that need to be cared for. With the help of a medical power of attorney, the private attorney takes critical medical decisions on behalf of the principal.
Minor Children Power of Attorney
The next Alaska power of attorney form or the “Form PG-700” lets a parent provide a designated temporary caretaker with decision-making authority concerning the wellbeing and/or medical treatment of their underage children. Individuals resort to such a legal paper any time they are forced to leave the country (and their kids) for a relatively long period. In compliance with Alaska laws, this time should not exceed one year.
Real Estate Power of Attorney
This proxy allows your attorney-in-fact to buy, sell, and supervise property in your name.
Vehicle Power of Attorney
Such a type of POA in Alaska is often referred to as the Form 847. It endows your agent to manage all documentation related to your vehicle’s ownership and registration.
Revocation of Power of Attorney
This form of power of attorney terminates the existing proxy, and this way ends the whole agreement.
State Tax Power of Attorney
The state tax power of attorney in Alaska (or the Form 775 POA) presents a selected individual (desirably, a certified accountant) with authority to process all requirements for the preparation and submission of tax documents on behalf of the principal.