A North Carolina general power of attorney gives an agent the legal right to make decisions concerning the principal’s money and property. This authority includes any financial activity that would normally be carried out by the principal, such as property dealings, trading stocks and bonds, business operations, and tax filing (the exact powers can be specified on page two (2) of the form). This authority remains in place until either the termination date is reached, the principal enacts a revocation document, or the principal is incapacitated.
In order for this power of attorney to be non-durable, the principal must specify their incapacitation as the termination event that nullifies the agent’s authority. The document becomes effective immediately upon execution by the principal and a notary public.
Durable Power of Attorney – This document allows a principal to elect a representative for their financial, legal, or personal affairs, and whose authority is not revoked by the principal’s incapacitation.