power of attorney

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Related to powers 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 ?
Seniors Rights Victoria, Submission to the Victorian Parliament Law Reform, Inquiry into Powers of Attorney, 21 August 2009
Third parties must honor statutory short form powers of attorney and statutory major gift riders unless they have reasonable cause not to.
Durable powers of attorney are helpful estate-planning tools and are appropriate for many situations.
Donna Bothamley, a specialist in the wills and probate department at Blythe Liggins Solicitors in Leamington, said that from October Enduring Powers of Attorneys (EPAs) would be replaced by new Lasting Powers of Attorneys (LPAs).
The letters and powers of attorney encountered in this investigation simply regurgitated the information supplied by the municipalities on their stale-dated check lists.
In several instances, NTSP gathered powers of attorney from its members where NTSP was appointed as their sole bargaining agent.
Gays and lesbians everywhere should be seeking out legal help with powers of attorney, wills, and other legal papers that recognize their relationships and help protect their rights and wishes.
Under the Powers of Attorney Act (PAA) the default certifiers are two physicians.
One would think that the probability of possible fraud relating to powers of attorney would be greatly diminished when there is an attorney involved in the closing who is willing to put his/her professional license on the line by vouching for the power.
They instead recommend durable powers of attorney, for five reasons: (1) the choice is simple; (2) little change in practice is needed; (3) they improve decisionmaking because more information is available for a contemporary decision; (4) they are cheap and the forms are easily filled out; and (5) they can easily be enacted into legislation.
Since the onset of the Transition Service Program in February 2001, TSOs have provided more than 3,600 briefings to more than 138,000 military men and women resulting in more than 31,000 transitioning military members authorizing powers of attorney for DAV NSOs to represent them, and more than 53,000 applications for veterans benefits being filed.