An Ohio general power of attorney is a document that an individual (the “principal”) uses to authorize a third party (the “attorney-in-fact”) to act on their behalf as their financial agent. The attorney-in-fact may be given the powers to manage finances and property, execute legal documents, file taxes, make health care decisions, make payments, transfer funds, and carry out any other duties the principal includes in the document.
The arrangement is “non-durable,” which means that it is automatically terminated if the principal is determined by a medical professional to be incapacitated. The power of attorney becomes effective when the principal has executed it or on the effective date listed in the form.
Durable Power of Attorney – Appoints an agent whose powers of attorney don’t terminate if the principal is incapacitated.