Limited power of attorney made easily available as free printable
One of the best legal tools, when we need someone to take charge on our behalf, is ‘LIMITED POWER OF ATTORNEY’ or LPOA. They are available as Free Printable Limited Power of Attorney Forms on various sites. When we appoint someone trustworthy to take decisions on our behalf in our absence, we give the individual LPOA.
What is ‘Limited’ in LPOA?
Well, it means that the power is to be used on a limited basis as mentioned in the declaration. For example, if an agent is authorized in LPOA to buy or sell shares on behalf the owner of the trading company he cannot withdraw money for any other reason without the consent of the principal. Thus his functions are limited or restricted. This is what makes a general power of attorney different from an LPOA.
Is LPOA can be used for multiple purposes?
Not really, it is particularly mentioned in the deed about the power the authorized person is entitled to. Like if the same person who got an LPOA for trading in shares cannot trade in investments where his owner has invested jointly or inherited shares. There are multiple types of Free Printable Limited Power of Attorney Forms available online. But one single LPOA can be used for the particular purpose. In the case of death or any physical injury, it is discontinued, and the agent is no longer holds power.
The agent is appointed to act on behalf of the principal he is assigned for. Background check and proper investigation are recommended for the agent to avoid disputes in future.