Friday, July 27, 2012

Power of Attorney

What is a power of attorney? This is a legal document delegating authority from one person to another. When making a power of attorney you should be very careful as to who you are granting the authority. The person you delegate as your agent has the power to act on your behalf. You may grant a broad power of attorney or a specified power attorney that would limit the actions of the agent.

What are some of the reasons for issuing a power of attorney ? If you wanted to sell your house or automobile and could not be present you may grant a power of attorney to your agent to do so.. It could also be used allowed someone to conduct your banking business or sign legal documents . That is why it's so important that you appoint someone that you trust to be your agent. You agent can also be known as your "attorney in fact." You may have an attorney draw up a power of attorney, a paralegal, or even a notary.

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