A Nevada Limited Power of Attorney Form is used to give the Agent a single fixed power, as opposed to the broader power granted by a General Power of Attorney agreement. What power this is varies from agreement to agreement, but generally speaking this form is for Principal’s who are capable of managing the power given over by the agreement, but wish to delegate it.
This agreement is often used when the Principal is unsure about giving the Agent the amount of power included in the General Power of Attorney. While it can be used to minimize the risk of abuse, or if the Principal is unsure the Agent can handle the responsibility inherent in a General agreement, it can also restrict the Agent ability’s to manage vital financial affairs. The Principal should consider this agreement carefully against a General Power of Attorney.