An Iowa general power of attorney is a document with which an individual (known as the “principal”) authorizes another person (the “agent”) to represent them and make decisions on their behalf. This power of attorney grants a broad range of financial powers, enabling the agent to manage the principal’s bank accounts, personal property, business operations, or perform any other action authorized in the document. The form can go into effect once signed or at a specific date in the future. The principal can also designate a termination date upon which the document becomes void. To make this power of attorney non-durable, a statement must be included in the “Special Instructions” area which states that the agent’s authority shall terminate if the principal becomes incapacitated.
Durable Power of Attorney – The financial powers granted through this document remain in effect if the principal becomes incapacitated.