A Missouri general power of attorney is a form in which an individual, known as the “principal,” designates another person, the “agent,” to conduct financial transactions on their behalf. An agent receiving general power is given access to the principal’s bank accounts, retirement plans, insurance policies, governmental benefits, and other assets. They can also make decisions affecting the principal’s real estate, personal property, taxes, and motor vehicles. Regardless of the agent’s authority, their powers cease to be effective if the principal becomes disabled, incapacitated, or dies. A notary public will need to witness the principal sign the document for it to be considered valid.
Durable Power of Attorney – Grants financial powers to an agent that won’t terminate if the principal becomes disabled or incapacitated.