A Kentucky general power of attorney is a document that allows a principal to choose a representative to act in their place and make decisions on their behalf. The representative is referred to as the “agent” or “attorney-in-fact,” and through the power of attorney they’ll be granted either global authority over the principal’s affairs, or more restricted power over specific areas of concern. Among other things, the agent may be tasked with selling the principal’s property, depositing checks, paying bills, maintaining investments, or hiring employees.
All powers granted to the agent must be authorized with the principal’s initials, and the principal must sign the completed form in the presence of a notary public. Unlike a durable power of attorney, this document automatically terminates if the principal becomes mentally incapacitated.
Durable Power of Attorney – Grants an agent with financial authority that remains in effect if the principal becomes incapacitated.