An Alaska general power of attorney is a contract used to appoint a trusted agent (friend, family member, professional, etc.) to handle financial matters that could otherwise only be completed by the principal themselves. These powers can include managing bank accounts, investments, property, taxes, retirement plans, and other important aspects of the principal’s estate. Unlike a durable power of attorney (linked below), a general power of attorney terminates as soon as the principal becomes incapacitated. The principal may also select a termination date upon which their agent’s powers will be annulled. To ensure the power of attorney is non-durable, the principal must mark the appropriate boxes in Sections 5, 6, and 7 (“Durable Power of Attorney Options”) of the document.
Durable Power of Attorney – Remains in effect regardless of the mental state of the principal.