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  2. Dictionary

    pow·er of at·tor·ney
    [ˈpou(ə)r əv, ə əˈtərnē]
    noun
    law
    power of attorney (noun)
    1. the authority to act for another person in specified or all legal or financial matters.
      • a legal document giving power of attorney to someone.
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    What is a financial power of attorney?A financial power of attorney, also known as a financial POA or general power of attorney POA, is a legal document that grants an individual the authority to manage another person's financial matters. This type of POA is restricted to financial matters and does not extend to healthcare decision-making.
    What is a power of attorney?A power of attorney is a legal document that binds the agent or attorney-in-fact and the principal. It's used in the event of a principal's temporary or permanent illness or disability or when they can't sign necessary documents. Both parties must sign the document and a third party is usually required to witness it.
    What is a power of attorney in English common law?1740-1750 English common law A power of attorney is a legal document in which one person, called the “principal,” or “ grantor ,” gives another person, called the “ attorney-in-fact ,” or “agent,” legal authority to act on the principal’s behalf.
    Do you need a power of attorney?Those who definitely need a power of attorney are those who know they will become unable to make legal decisions for themselves in the future. At its most basic, a power of attorney (POA) is a legal document that allows someone to act on your behalf when it’s either inconvenient or impossible to act for yourself.
    What is a medical power of attorney?A medical POA, also known as a health care power of attorney, is a limited power of attorney that appoints an agent to make health care decisions on your behalf. The duties of the agent of a medical POA can include: A financial POA is another type of limited power of attorney that grants an agent authority over your financial matters.
    What are the different types of power of attorney?Here are the most common types: General Power of Attorney: This provides the broadest powers to the attorney-in-fact, allowing them to handle a wide range of financial and legal matters on behalf of the principal. Special Power of Attorney: This restricts the attorney-in-fact’s powers to specific actions or decisions.
     
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