A Limited Pet Power of Attorney is a financial power of attorney with a scope limited to supporting the care and comfort of your pets. You can create a Limited Pet Power of Attorney with Just In Case Estates as part of a free Pet Protection Plan.
What is a financial power of attorney?
A financial power of attorney is a legal document through which an individual can grant another person, called an agent, authority to perform certain actions on their behalf. Generally speaking, with the exception of trust and estate powers, your agent is authorized to act and make any decision concerning your finances or property that you yourself could make.
What is the difference between a financial power of attorney and a Limited Pet Power of Attorney?
A Limited Pet Power of Attorney is a special type of financial power of attorney. In contrast to acting under a general authority to perform a broad range of acts and services under many different subjects, your agent under a Limited Pet Power of Attorney is limited to using your finances solely for supporting the continued care, safety, and comfort of your pets in two specific subjects under two subjects:
| Financial Power of Attorney | Limited Pet Power of Attorney |
|---|---|
|
Real property Tangible personal property Stocks and bonds Commodities and options Banks and Other Financial Institutions Operation of Entity or Business Insurance and Annuities Estates, Trusts, and Other Beneficial Interests Claims and Litigation Personal and Family Maintenance Benefits from Governmental Programs or Civil or Military Service Retirement Plans Taxes |
Tangible personal property Banks and other financial institutions |
| Broad scope to act in accordance with your instructions and "best interest" | Limited scope to perform their obligations as Pet Guardian in your Pet Protection Plan and only up to the dollar amount that you specify |
Granting authority over banks and other financial institutions in your Limited Pet Power of Attorney authorizes your Pet Guardian the ability to open accounts or pay for the cost of caring for your pet on your personal credit up to the amount that you specify in the Limited Pet Power of Attorney. The grant over tangible personal property allows your Pet Guardian to take temporary custody of your pet, since pets are considered property under the law.
Notes:
** Listed subjects in the table for a financial power of attorney include all those permissible subjects as part of a grant of general authority. They do not include trust and estate subjects which may only be granted through a specific authority designation.
