Power of attorney is a legal document granting someone else, known as the attorney-in-fact or agent, the authority to act on behalf of another person, known as the principal. This authorization can be limited or extensive, covering a range of legal, financial, and personal matters. The attorney-in-fact is typically appointed to manage the principal's affairs when they are unable to do so themselves due to absence, illness, disability, or any other reason.
The power of attorney grants the attorney-in-fact the power to make decisions related to finances, property, healthcare, legal matters, and other aspects, depending on the specific powers granted by the principal. These powers can be outlined in the document in a precise manner to define the scope of authority the attorney-in-fact possesses.
The power of attorney document requires the principal to be mentally competent and of legal age during its creation. It needs to be signed, witnessed, and notarized to ensure its validity.
Power of attorney is a valuable legal tool that allows individuals to ensure their affairs are properly managed and decisions are made by someone they trust. It facilitates the smooth management of important matters even when the principal cannot be physically present, offering convenience and peace of mind to both the principal and attorney-in-fact.
