A power of attorney (POA) is a legal document in which the principal (you) designates another person (called the agent or attorney-in-fact) to act on your behalf. It becomes useful when a person is incapacitated or is absent for extended periods of time while working abroad, attending training in a different state, etc. The document authorizes the agent to make either a limited or broader set of decisions. Power of attorney can be limited in scope to a specific transaction, to an area of business, or it can be broad enough to encompass many aspects of principal’s life.
To avoid any pitfalls and to make sure your power of attorney expresses your wishes as precisely as possible, it’s best to retain a competent attorney. Contact our law firm for a consultation – we’ll be happy to help.