Power of Attorney

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Power of Attorney is the authority to act on the behalf of another person in specified or all legal matters.

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What is the Power of Attorney?

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It is a legal document that is used to pass the legal authority from one person to another person to take the financial or personal decision. The agent has the full authority to complete the given task. The agent will be considered as the principal is giving its assent to do the work.

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There are two parties in case of Power of Attorney:

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Principal

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Agent

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Why the Power of Attorney (POA) is required?

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Why the Power of Attorney (POA) is required?

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Physical handicap

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Busy

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Power of Attorney

Power of Attorney is the authority to act on the behalf of another person in specified or all legal matters.

What is the Power of Attorney?

It is a legal document that is used to pass the legal authority from one person to another person to take the financial or personal decision. The agent has the full authority to complete the given task. The agent will be considered as the principal is giving its assent to do the work.

There are two parties in case of Power of Attorney:

Principal

The person giving the POA to another person is called the principal. He can also be known as executant or grantor.

Agent

The POA assigned by the principal on behalf of the person is called an agent. He can also be known as Attorney or grantee. Anything done in the color of his duty will be considered as done by the principal.

Why the Power of Attorney (POA) is required?

Why the Power of Attorney (POA) is required?

Physical handicap

if a person has a health issue then he can appoint the agent to do the work on his behalf.

Busy

generally, the businessman is busier in their daily works, so he cannot go everywhere to deal with his clients or other parties.

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