In any case, whether for an extended or temporary amount of time, the principal will need to take care of the type of Virginia power of attorney forms they choose to fill out. Some of the most common power of attorney forms include:
General Power of Attorney
This type of power of attorney is most often used to grant the chosen attorney-in-fact the right to oversee the principal’s financial and business-related matters. With a general power of attorney, the document is legally binding so long as the principal is living and of sound mind.
Durable Power of Attorney
A durable power of attorney is also used for financial and business matters. However, this will remain valid even if the principal is to become mentally disabled.
Limited Power of Attorney
With a limited power of attorney, the principal has much more freedom in the specifics that they can outline in the form. This includes specifying dates or areas within the principal’s life that the attorney-in-fact may have control over.
Medical Power of Attorney
With a medical power of attorney, the principal can pass over the right to make medical-based decisions over to the attorney-in-fact. This POA type is generally used if the principal is suffering from a terminal illness or is employed in a high-risk position where their life is frequently at stake.
Minor Children Power of Attorney
There are some cases where parents or guardians are called out of the country for an extended period. This is where a minor child POA can come in handy, granting the chosen attorney-in-fact the right to act as the child’s legal guardian in question.
Tax Power of Attorney
Principals have the option to appoint someone to handle any tax-related documents with a tax power of attorney (Form PAR 101). This can include the preparation or signing of paperwork, usually taking the help of a professional accountant or tax preparer. Though some else is taking control and acting on the principal’s behalf, the principal is still solely responsible in the case that there are any legal discrepancies involved from misfiled paperwork or fees owed to Virginia Internal Revenue.