Which type of Power of Attorney is effective immediately upon signing?

The type of Power of Attorney that is effective immediately upon signing is the Immediate Power of Attorney, also sometimes referred to as a Durable Power of Attorney. This type allows the designated agent or attorney-in-fact to act on behalf of the principal right from the moment the document is executed.

This immediacy is crucial for situations where the principal needs someone to manage their affairs right away, such as in cases where they may be incapacitated or unable to handle their own decisions due to unforeseen circumstances. The Immediate Power of Attorney does not require any further conditions to be met; it gives the agent the authority to take action based on the principal's directives immediately.

In contrast, a General Power of Attorney is broad and can cover various types of decisions and actions but may not specify immediate effectiveness. A Special Power of Attorney is more limited in scope and typically pertains to specific transactions or matters. An Enduring Power of Attorney may come into effect under specific conditions, often when the principal becomes incapacitated, but it does not necessarily take effect right upon signing without those conditions being met.