A Virginia general power of attorney is a legal document that authorizes an individual (the “attorney-in-fact”) to make decisions regarding the financial and property interests of another person (the “principal”). This type of arrangement is different from a “durable” power of attorney because it will become ineffective in the event of the principal’s incapacitation. Instead, it terminates when the principal revokes the agreement in writing or on a termination date specified in the document. In accordance with § 64.2-1603, the principal’s signature on the power of attorney must be acknowledged by a notary public.
Durable Power of Attorney – A power of attorney that is unaffected by the principal’s mental incapacity.