Powers of Attorney and Durable Powers of Attorney are legal documents that can be useful tools in a variety of legal, financial, business, and medical situations. They are relatively simple to create and can save a lot of headaches down the road!
The effect of a Power of Attorney is that one person (the principal) chooses another (the agent or attorney in fact) to serve as their representative in financial and business matters. Despite the name of the power, your attorney-in-fact does not have to be an attorney! You can determine whether you want to grant general powers to your agent, or only limited powers. Some possibilities for what powers you can grant using a Power of Attorney: [Read more…]