BizTerm Definition
Power of Attorney
Short Definition
A document giving power to attorney-in-fact
Full Definition

A document that gives another person legal authority to act on your behalf. If you create such a document, you are called the principal and the person to whom you give this authority is called your attorney-in-fact. A power of attorney may be "general," which gives your attorney-in-fact extensive powers over your affairs. Or it may be "limited" or "special," giving your attorney-in-fact permission to handle a specifically defined task. If you make a durable power of attorney, the document will continue in effect even if you become incapacitated. For examples, see durable power of attorney for finances; durable power of attorney for healthcare.

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