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A power of attorney allows you to give someone else the authority to act for you. It can be useful if you need help with things like banking and deciding where to live. There are rules around powers of attorney that are important to know.
A power of attorney (POA) is a legal document that allows you to give someone else the authority to act for you.
A power of attorney ends when you die. If you want to set out how your property will be dealt with after your death, you need to create a Will.
An individual who gives someone the authority to act for them under a POA is known as the grantor. The individual who is authorized to act is known as the attorney. An attorney under a POA does not need to be a lawyer. The term simply refers to someone you appoint to act on your behalf under the POA.
To grant a power of attorney, you must be at least 18 years of age and have the capacity to be able to understand the nature and effect of the document. Even when a power of attorney is in place, you can also continue to act for yourself as long as you are legally capable.
There are different types of powers of attorney. You can tailor the document to meet your needs concerning when your attorney can act and what your attorney can do.
When you appoint someone as your attorney, you are giving them the power to do certain things for you. The law provides that certain people cannot be appointed as your attorney. Certain things are required to make a power of attorney valid. It is important to balance the benefits of having an attorney against the risks.
Someone you appoint as your attorney has a duty to act in your best interests. Attorneys are also required to account for any money they have handled for you.
You can decide to end a power of attorney anytime for any reason as long as you are still capable. If you do not have the capacity to end it, any interested person can ask the court to end it if they think there has been abuse of the power. There are also some situations where a power of attorney must end by law.
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