 Sam
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 Posted: Wed Mar 31, 2004 2:02 am Post subject: Power of Attorney |
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Power of Attorney is a written legal document that allows a person to make legal decisions on behalf of another person. It grants either complete or limited authority.
There are three types of Power of Attorney :
- Non-Durable Power of Attorney : It is often used for a specific transaction like handling of the principal's financial affairs etc.
- Durable Power of Attorney : Allows agent to act on behalf of the principal if he is mentally or physically disabled to make decisions. The agent retains the power unless it is revoked by the principal or until the principal dies.
- Springing Power of Attorney : The power remains in effect till the principal's death, or unless it is revoked by a court.
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