Oregon General (Financial) Power of Attorney Form
The Oregon General (Financial) Power of Attorney is a contract a person (the “principal”) can use to give another individual the ability to handle responsibilities as if they were the principal themselves. This is useful if the principal needs assistance with their finances, anticipates being unavailable (and needs someone they can trust to oversee their assets), and other reasons.
The general power of attorney is virtually identical to the durable power of attorney, except for one major fact: the general power of attorney terminates if the principal was declared as “incapacitated” (unable to communicate effectively). Because of this, a general power of attorney is preferred by those not looking to assign a permanent agent, or do not want their agent being able to retain their power when they can’t think for themselves.