Q. Are there different types of powers of attorney?

A. Yes. There are "Nondurable," "Durable," and "Springing" Powers of Attorney.

“Nondurable” Power of Attorney - takes effect immediately. It remains in effect until it’s revoked by the Principal or until the Principal becomes mentally incompetent or dies. It is often used for a specific transaction, like the closing on the sale of a residence, or the handling of the Principal’s financial affairs while the Principal is absent or unavailable.

“Durable” Power of Attorney - enables the Agent to act for the Principal even after the Principal is not mentally competent or physically able to make decisions. It may be used immediately and is effective until revoked by the Principal, or until the Principal’s death.

“Springing” Power of Attorney - becomes effective at a future time. That is, it “springs up” upon the happening of a specific event chosen by the Principal, which is spelled out in the Power of Attorney. Often that “springing” event is the illness or disability of the Principal. It will frequently provide that the Principal’s physician determines whether he or she is competent to handle his or her financial affairs and it remains in effect until the Principal’s death, or until revoked by a court.