An Oklahoma Limited Power of Attorney Form is used, as the name suggests, when the Principal wishes to give the Attorney-in-Fact very limited power over their financial affairs. This usually revolves around a specific task or management of a particular aspect of their finances, typically filing taxes, managing investments or the like.
While this kind of agreement is generally considered safer than a General Power of Attorney form, it can also be more restrictive. As it only gives the Attorney-in-Fact a single power, it can hamstring them if they need to access something they don’t have specific power over. On the other hand, it leaves less room open for abuse and can reduce the amount of responsibility for the Attorney-in-Fact. It should be carefully considered against a General Power of Attorney agreement.