A Georgia general power of attorney (GPOA) enables an individual, known as the “principal,” to authorize another person, referred to as the “agent” or “attorney-in-fact,” to manage various financial and legal matters on their behalf. It grants the agent extensive powers to handle the principal’s financial affairs, including managing bank accounts, investment decisions, bill payments, and other monetary responsibilities.
Within the context of Georgia law, this non-durable power of attorney becomes ineffective if the principal is unable to make decisions, while a durable power of attorney remains valid even if the principal becomes incapacitated.
Authority (Ga. Code § 10-6B-40) – The authority granted to an agent is contingent upon explicit inclusion within the power of attorney. The agent can carry out specific actions that are expressly authorized on behalf of the principal or with the principal’s assets. These actions are legally binding on the principal and successors in interest.
Signing Requirements (Ga. Code § 10-6B-5) – The form must be signed by the principal or by another individual in the principal’s presence at their express direction and attested by a competent witness (who is not also named as an agent).
Presumption of Durability (Ga. Code § 10-6B-4) – Yes, in Georgia, a power of attorney is presumed durable, meaning that it will remain in effect unless expressly stated to terminate upon the principal’s incapacity.