Power of Attorney

WEEKLY LEGA

The power of attorney is frequently used in the event of a principal's illness or disability, or when the principal can't be present to sign necessary legal documents for financial transactions. A power of attorney can end for a number of reasons, such as when the principal dies, the principal revokes it, a court invalidates it, the principal divorces his/her spouse who happens to be the agent or the agent can no longer carry out the outlined responsibilities.

There are different types of POAs that fall under either a general power of attorney or limited power of attorney. A general power of attorney acts on behalf of the principal in any and all matters, as allowed by the state and a  limited power of attorney gives the agent the power to act on behalf of the principal in specific matters or events.