![]() ![]() In some powers of attorney the grantor states that they wish the document to remain in effect even after they become incapacitated, creating a durable or lasting power of attorney. Structure and requirements Capacity of the grantor Ī person, known as the grantor or donor in different jurisdictions, can only create a power of attorney if they have the requisite mental capacity. As an agent, an attorney-in-fact is a fiduciary for the principal, so the law requires an attorney-in-fact to be completely honest with and loyal to the principal in their dealings with each other.Īn attorney has power to act on behalf of the person it has been known for this power to be misused, for example to steal the assets of a person who may be vulnerable (e.g. The Uniform Power of Attorney Act employs the term agent. When all the claims are paid, the attorney-in-fact then returns the leftover funds to the subscribers. In the context of the unincorporated reciprocal inter-insurance exchange (URIE) the attorney-in-fact is a stakeholder/trustee who takes custody of the subscriber funds placed on deposit with him, and then uses those funds to pay insurance claims. An attorney-in-fact may be a layperson and is authorized to act pursuant to the powers granted by a power of attorney but may not engage in acts that would constitute the unauthorized practice of law. In the United States, an attorney-at-law is a solicitor who is also licensed to be an advocate in a particular jurisdiction. That term should be distinguished from the term attorney-at-law. The term attorney-in-fact is used in many jurisdictions instead of the term agent. Some jurisdictions require that powers of attorney be notarized or witnessed, but others will enforce a power of attorney as long as it is signed by the grantor. The one authorized to act is the agent, attorney, or in some common law jurisdictions, the attorney-in-fact.įormerly, the term "power" referred to an instrument signed under seal while a "letter" was an instrument under hand, meaning that it was simply signed by the parties, but today a power of attorney does not need to be signed under seal. The person authorizing the other to act is the principal, grantor, or donor (of the power). ![]() ( April 2022) ( Learn how and when to remove this template message)Ī power of attorney ( POA) or letter of attorney is a written authorization to represent or act on another's behalf in private affairs (which may be financial or regarding health and welfare), business, or some other legal matter. You may improve this article, discuss the issue on the talk page, or create a new article, as appropriate. The examples and perspective in this article deal primarily with the United States and English-speaking world and do not represent a worldwide view of the subject. ![]()
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