Alaska Limited Power of Attorney Form
An Alaska limited power of attorney form enables a person (the principal) to assign specific authority to another individual (the agent) for a short period or until task completion. The principal will need to enter the date the document goes into effect, which can be the date of completing the form or a specific date in the future. While not required, they can also set a termination date to restrict the agent’s time to act in their place.
|Statutes: Article 5 – Power of Attorney|
Signing Requirements: The principal must sign before a notary public (§ 13.26.600).
What is an Alaska Limited Power of Attorney?
An Alaska limited power of attorney allows someone to handle another person’s task for a restricted duration. The principal is responsible for outlining the specific duties for an agent to carry out. It can, but does not have to, contain a start and end date. Limiting the amount of time an agent has power prevents the individual from making unwarranted choices and ensures they complete the duties.
Per § 13.26.610, the agent cannot exceed the powers granted to them as they must closely follow the instructions presented in the limited power of attorney form. The individual must maintain a log of every transaction they make for the principal and hold onto any receipts acquired. They can request reimbursement or repay the principal if the remaining funds exist with this information. Furthermore, the agent vows to act in the principal’s best interest by considering what the person would want most in a given situation.
When Does a Limited Power of Attorney End?
A limited power of attorney ends when the agent completes their tasks, the form expires, or the principal removes access using a revocation form. Furthermore, the document terminates if a doctor deems the principal as incapacitated. This term means the person has suffered from an injury or illness that prohibits their ability to speak or reason (§ 13.26.620).
Generally, the form has a short lifespan, making it a practical choice for individuals who only need a few tasks done. This document is different from a durable power of attorney and, therefore, should not be utilized for long-term needs.