Power of Attorney Legal Definition
"What is a Power of Attorney?"
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© Pribanic & Pribanic Power of Attorney legal definition: In Pennsylvania, power of attorney is defined as a legal document that grants one person the legal authority to act on another’s behalf. The person appointing a power of attorney generally selects a family member or close friend. In a power of attorney:
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The person who is given this power is known as the agent
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The person granting this power is known as the principal
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The agent may have very narrow or very broad authority
The function of a power of attorney is to give the right to conduct any business the principal could not perform him or herself, including:
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Banking
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Managing and paying bills
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Making medical decisions
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When acting on the principal’s behalf, an agent has a duty to:
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act in her best interests
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exercise reasonable caution and due care
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keep personal assets separate from the principal’s assets
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keep detailed records of all actions taken on behalf of the principal
There are two types of power of attorney:
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Durable Power of Attorney – This type of power of attorney remains in effect even after the principal has become disabled and loses the capacity to make legally informed decisions.
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Sources:
https://www.lawdepot.com/law-library/faq/power-of-attorney-faq-united-states/#question0_4 Read more from Pribanic & Pribanic:
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