This a statutory form that may be used to prove the authority of an agent to act under a power of attorney.
This a statutory form that may be used to prove the authority of an agent to act under a power of attorney.
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True. An agent operating under a written power of attorney is called an attorney-at-law.
An attorney in fact is an agent authorized to act on behalf of another person, but not necessarily authorized to practice law, e.g. a person authorized to act by a power of attorney.
An attorney-in-fact is a person who has been legally appointed to act on behalf of another person in a legal or business matter. The person appointing the attorney-in-fact is called the "principal," and the attorney-in-fact is sometimes referred to as the "agent."
You can write a POA in two forms: general or limited. A general power of attorney allows the agent to make a wide range of decisions. This is your best option if you want to maximize the person's freedom to handle your assets and manage your care.
One major downfall of a POA is the agent may act in ways or do things that the principal had not intended. There is no direct oversight of the agent's activities by anyone other than you, the principal. This can lend a hand to situations such as elder financial abuse and/or fraud.