power of attorney


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Related to power of attorney: Enduring Power of Attorney

power of attorney

The formal or legal document which allows one person to manage the affairs—or specific aspects of the affairs—of another. Power of attorney begins when a person has a physical illness or accident, and that person wants someone else to enter into management of his or her affairs. A standard power of attorney should not be used if the individual has been diagnosed with, or is likely to develop, mental illness or degenerative disease which can lead to mental incapacity, as an ordinary power of attorney automatically ends with loss of mental capacity.

power of attorney

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POA

A legal document by which a person identifies someone to make financial decisions if he or she is unable to perform this task independently.
See: power of attorney, durable, for health care
References in periodicals archive ?
Granting Power of Attorney has nothing to do with giving control over your affairs or welfare - you are always in control of your own finances and welfare decisions.
PLAN AHEAD: Putting a Power of Attorney in place can give you and your family peace of mind for the future and save possible distress and extra expense
The court rejected Dr Asim plea for giving power of attorney to his son.
It is important to review the financial power of attorney document to identify who is/are the Attorney(s)-in-fact and whether these individuals may function separately (or independently), jointly or jointly and separately (independently) and identify what roles they have been assigned.
(b) that the general power of attorney only authorized Glori to administer the properties of Mari;
TIP: If your affairs are relatively straightforward, you can assign a Power of Attorney by visiting Gov.co.uk/power-of-attorney and filling in a form for a fee of PS110.
A typical power of attorney document ceases to be valid when a person loses mental capacity.
Where the delegated powers are for general unspecified matters, this can be delegated using a General Power of Attorney. If the delegation is for a specific matter or for a court case, a Specific Power of Attorney will be needed.
Two legal documents addressing these practical needs in a retirement plan are a power of attorney and a health care power of attorney.