What Is a Power of Attorney?

An “attorney” is an individual who has been granted legal authority to conduct business on your behalf. You have the right to provide anyone with this power. If the power of attorney is limited, the individual you choose can conduct only that business specified in your agreement. If the power of attorney is general, the person’s authority is more extensive but still assumes you are competent to review and approve his or her decisions. If the agreement contains what is known as “durable” language (according to the passage of certain state laws), it allows the designated individual, also known as the attorney in fact to make decisions on your behalf in the event of physical or mental incapacity.

 

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