The scope of authority granted under a GPA is broad and can include actions such as signing documents, managing bank accounts, buying or selling property, and handling business operations. The agent’s powers are effective immediately upon the execution of the document and remain in effect until the principal revokes the authority or passes away. It is crucial for the principal to choose a trustworthy and competent individual as their agent, as the GPA provides significant control over their personal and financial matters.
Creating a GPA involves drafting the document, specifying the powers granted, and having it signed and notarized. This ensures that the agent’s actions are legally recognized and binding. A GPA is a powerful tool for managing one’s affairs and ensuring that trusted individuals can act in their best interest when needed.
