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Q.What can a Power of Attorney be used for?
A.A Power of Attorney may be used to give another person the authority to act on his behalf in almost any financial, business, or other situation. A general power of attorney can be used to enable someone to handle all of your financial and business affairs. A specific power of attorney can be used to enable someone to perform one or more specific tasks on your behalf (e.g. sell a car, a home or other property; cash and/or deposit a check; sign a contract or legal documents for a particular transaction, file a tax return, pay bills, etc.).
With a specific power of attorney, your appointed attorney-in-fact ("agent") may perform only those acts speci-fied in the Power of Attorney. If an agent is unsure whether he or she is authorized to perform a particular act, the agent should consult either the attorney who prepared the document or an another attorney in their state.
If the purpose of the power of attorney is to ensure the named person can act on your behalf in the event you become incapacitated, it is important to execute a “durable” power of attorney.
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