Power of Attorney
A legal document that allows one person to act on behalf of another in financial, legal, or personal matters.
What is Power of Attorney?
A Power of Attorney (POA) is a legal document granting an individual (agent or attorney-in-fact) the authority to act on behalf of another person in financial, legal, or healthcare matters, either immediately or under specific conditions.
Why It Matters?
It facilitates decision-making, protects interests, and ensures continuity when someone cannot act for themselves.
Example
An elderly individual executes a POA authorizing a trusted relative to manage bank accounts and pay bills.
Related Terms
Mediation
Litigation