Below are several types of South Carolina power of attorney forms:
General POA
This form bestows a trusted individual the mandate to manage all the financial matters in place of the grantor. As per South Carolina statutes, the agreement allows the agent to execute all monetary affairs until the grantor dies or suffers incapacitation.
Durable POA
This type of agreement has the same similarities as the general power of attorney. It allows the attorney-in-fact to manage the grantor’s finances. The only difference is that the agreement continues to have power even after the principal gets physical or mental illness.
Limited POA
Sometimes a grantor decides to assign specific powers to an agent to fulfill certain tasks. In such a case, the limited power of attorney is the appropriate form to use. For instance, the agent can manage finances or health care decisions but can’t conduct real estate transactions. This form is also referred to as a special POA.
Guardian of Minor Child POA
Parents who want to travel outside the country and they have minor children can use this form. It allows the grantor to assign legal rights over the child or children to a trusted individual. In such a case, the agent becomes a temporary guardian for the children and makes critical decisions in emergencies.
Health Care POA
When a grantor falls ill and can’t make critical medical decisions, a health care power of attorney will ensure the agent takes responsibility in favor of the grantor. For example, a grantor with dementia can’t give physicians medical consent due to the mental illness. Hence, requiring an attorney-in-fact to make the decisions.
Revocation POA
Suppose a grantor decides to cancel a power of attorney document because of many reasons. In such a situation, the grantor can use a revocation of power of attorney form. It ends the relationship between the principal and the agent.
Real Estate POA
If a grantor wants to issue authority to an agent to manage his/her real estate business, this form will serve the purpose. It allows the attorney-in-fact to carry out various transactions, such as buying, selling, and leasing out properties to customers.
Vehicle POA
When you want to assign an agent authority to execute motor vehicle transactions, you can use the vehicle power of attorney form. The agent will fill and sign all the paperwork from the Motor Vehicle Department of South Carolina in place of the principal.
Tax POA
If the principal cannot conduct taxation duties, he or she can grant powers to an agent to prepare and file taxes to the Revenue Department on time. Usually, the agent should be a professional accountant or an individual with taxation knowledge and skills. According to South Carolina laws, the document is called Form SC-2848.