The North Carolina General Power of Attorney Form is drafted when the Principal wants their Agent to have extensive power over the Principal’s financial affairs. This includes buying and selling large scale property such as automobiles or real estate, depositing or withdrawing funds from bank accounts or paying bills.
A General Power of Attorney agreement requires that the Principal put the most trust in their Agent of any of the most common Power of Attorney agreements. It gives the Agent the most authority over the Principal’s affairs, and thus comes with the most responsibility and potential for abuse, accidental or otherwise. The Principal should choose their Agent for this agreement exceptionally carefully, and may wish to consider a Limited Power of Attorney agreement.