power of attorney


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Related to power of attorney: Enduring Power of Attorney

Power of attorney

A written authorization allowing a person to perform certain acts on behalf of another, such as moving of assets between accounts or trading for a person's benefit.

Power of Attorney

The legal transfer of the authority to act on behalf of another person. That is, power of attorney gives the designee (called an agent) the authority to sign legal documents and manage the finances of the principal in the event of the principal incapacitation. For example, one may designate power of attorney to a relative in case one develops Alzheimer's disease and is unable to manage one's own affairs. The power of attorney may be limited or unlimited; that is, the principal may only allow the person with power of attorney to manage affairs within certain parameters.

power of attorney

A legal document in which a person gives another the power to act for him or her. The authority may be general or it may be restricted to activities such as the handling of security transactions.

Power of attorney.

A power of attorney is a written document that gives someone the legal authority to act for you as your agent or on your behalf. To be legal, it must be signed and notarized.

You may choose to give someone a limited, or ordinary, power of attorney. That authority is revoked if you are no longer able to make your own decisions.

In contrast, if you give an attorney, family member, or friend a durable power of attorney, he or she will be able to continue to make decisions for you if you're unable to make them. Not all states allow a durable power of attorney, however.

A springing power of attorney takes effect only at the point that you are unable to act for yourself.

It's a good idea have an attorney draft or review a power of attorney to be sure the document you sign will give the person you're designating the necessary authority to act for you but not more authority than you wish to assign.

You always have the right to revoke the document as long as you are able to act on your own behalf.

power of attorney

A document executed by one person (the principal) authorizing another to act as his or her agent and on his or her behalf for any legal purposes or for specifically defined tasks. The agent is called an attorney in fact.

References in periodicals archive ?
A health care power of attorney may outline specific guidelines your agent must follow in making decisions regarding your health care.
If you become incapacitated and you haven't prepared a durable power of attorney for finances, a court proceeding is necessary if you want your spouse, closest relatives or companion to exercise some authority over at least some of your financial affairs.
The ombudsman has published a list of "dos and don'ts" for bank staff and consumers after finding that in the majority of cases it sees, disputes could have been prevented if bank staff had a better understanding of how power of attorney works.
As Donna Brennan, a partner at Glasgow solicitors Morton Fraser, explains: "Granting a Power of Attorney ensures that a trusted person or persons of your choice are legally allowed to take over the management of your affairs at a time when you are unable to act or make decisions yourself.
It is precisely this growing importance that led to the 2009 revisions of the power of attorney law.
Only a few types of powers cannot be invested via power of attorney.
The SMS and emails are to be sent periodically -- every six months (twice a year) -- to people who delegate their power of attorney, to remind them that the power of attorney granted are still effective and valid.
Usually if documents pertaining to a power of attorney are attested by Ministry of Foreign Affairs in India, they get counter-attested by Qatar embassy in India and resultant local attestation by Doha's Indian embassy is only a mere formality.
Such situation negatively impacts the situation with collection of taxes, as owners of cars do not pay taxes with the power of attorney for the car in force.
No matter what the calamity, the religious power of attorney has you covered," GodDiscussion notes.