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Power Of Attorney

Posted by admin on Thursday, February 5th 2009   4 Comments

Definiton: Power of attorney

A power of attorney in civil law systems is an authorization to act on someone else’s behalf in a business or legal issue. The person authorizing the other to act is the principal or granter (of the power), and the one authorized to act is the agent or attorney-in-fact

Some Basic Advice

*  Appoint two attorneys. If you make the appointment “joint but not several”, it means neither can act without the knowledge and approval of the other.
*  Appoint a professional or a trustee company. They should have standards of record keeping and accounting which individuals may not have.
*  Restrict their powers. Instead of giving an attorney full powers, you can specify the limits of what they can do (access your accounts but not sell your house, for example). But don’t go overboard with this. Having an attorney hamstrung with countless restrictions while you’re unable to look after yourself could be as bad as having no attorney at all.
for more complete information go to the following consumer site More info on Power of Attorney

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