Lawyers will counsel you that you need to have a power of attorney. A Power of Attorney is a significant document which allows someone else to take care of your affairs when you have difficulty or are not able to do so. With illness and age, a Power of Attorney frequently becomes mandatory.
Normally the man who's granted the ability to act will achieve this with the very best of intentions. What happens, but if the individual who you trust misuses the Power of Attorney for personal profit or gain?
A Power of Attorney might appear to be a very simple record, but it may have far-reaching and unintentional consequences. A Power of Attorney can be very tempting to the individual that has it.
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A Power of Attorney is a legal document where a person (the “Primary") gives someone else (the “Agent" or “Attorney-in-fact") the ability to act on the Principal's behalf. You can visit www.maitlandlaw.com to know more about attorneys in Alamance County NC.
In case the Principal gets sick, incapacitated or otherwise not able to deal with her financial affairs, or just chooses to allow somebody else do it for her, the person or persons she advised at the Power of Attorney can cover invoices, deal with banks, attorneys and other professionals, and also do other things which are in the best interest of their Primary.
A Power of Attorney may be overall, meaning it provides the Attorney-in-fact the ability to do anything the Primary might do for himself, or restricted, meaning it is limited in extent or time.