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Power of Attorney

Also known as: General Power of Attorney, Special Power of Attorney, Durable Power of Attorney, Health Care Power of Attorney

Power of Attorney

A Power of Attorney is a legal instrument that is used to delegate legal authority to another. The person who signs (executes) a Power of Attorney is called the Principal. The power of Attorney gives legal authority to another person (called an Agent or Attorney-in-Fact) to make property, financial and other legal decisions for the Principal.

A Principal can give an Agent broad legal authority, or very limited authority. The Power of Attorney is frequently used to help in the event of a Principal's illness or disability, or in legal transactions where the principal cannot be present to sign necessary legal documents.

Power of Attorney/partial sample

TO ALL TO WHOM these presents shall come, I ........ of ...... SEND

GREETINGS

WHEREAS I am desirous of appointing some fit and proper person to

look after all my immovable properties, business and other affairs and

requested Mr. ...... of ........ (hereinafter called 'the Attorney') to act for

me and manage and look after my affairs which the Attorney has consented

to do

NOW KNOW YOU ALL AND THESE PRESENTS WITNESS that I, the said

... do hereby appoint the said ..... as my true and lawful Attorney with full

power and authority to do and execute all acts, deeds, and things as

hereinafter mentioned....

What kinds of legal authority can be granted with a Power of Attorney Agreement

Whether "Nondurable," "Durable," or "Springing," a Power of Attorney can be used to grant any, or all, of the following legal powers to an Agent:

Buy or sell your real estate
Manage your property
Conduct your banking transactions
Invest, or not invest, your money
Make legal claims and conduct litigation
Attend to tax and retirement matters
Make gifts on your behalf

How do I select an Agent for Power of Attorney?

You should choose a trusted family member, a proven friend, or a professional with an outstanding reputation for honesty. Remember, signing a Power of Attorney that grants broad authority to an Agent is very much like signing a blank check.
Certainly, you should never give a Power of Attorney to someone you do not trust fully. And do not allow anyone to force you into signing a Power of Attorney.

Save yourself time, expense, and headache by thoroughly checking the agreement advance!

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