Power of Attorney (POA)
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Power of Attorney (POA)
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what is Power of Attorney (POA) ?
A Power of Attorney (POA) is a legal document by which a person given a written authorization to represent or act on his behalf in various matters. The person giving such authority is known as a principal and the person to whom such authority is given as agent. Such POA can be granted for any reason such as when the principal is out of town, or unable to travel etc. A POA can end for a number of reasons such as when the principal dies, or the principal revokes it or a court invalidates it etc.
Benefits of Power of Attorney:
POA grants authority to agent to act on behalf of the principal making it easier and quicker to complete a task without the principal physically being at that place. A well-drafted POA restricts the agent to act within his specific power/ limitations and shall be held guilty is misuse his powers or surpasses his limitations. The benefit of revocation of POA gives principal full authority to withdraw or suspend it at any time. By drafting a POA, it has become easier for the principal to get his work done quicker.v
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