limited power of attorney


Also found in: Acronyms.

limited power of attorney

The authority granted to another under a written power of attorney, specifying or describing the particular acts the attorney in fact may do,and no others.Contrast with a general power of attorney,which allows all things the person could do himself or herself.Limited powers are usually given to do things like transfer stock, obtain information from the IRS or Social Security Administration,sign all documents necessary for a real estate closing,or other such tasks.

References in periodicals archive ?
Executing a general or limited power of attorney for finances can save the expense and difficulty of a conservatorship or guardianship proceeding, or can prevent intervention by blood relatives in one's financial affairs, in the case of incapacity.
Another suggestion that NSPA has repeatedly offered to the Service as a way to speed up the notice process is a limited power of attorney authorization line on all forms.
With a limited power of attorney on the return, the taxpayer would still receive the notice.
In surrendering all ownership and beneficial interest in the transferred property, the donor (or the donor's financial adviser) is permitted to manage the account's investments, subject to a limited power of attorney allowing the donor to act as the investment manager for a fixed term.
* Check-off limited power of attorney (not yet available);
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