Whether it’s for convenience or out of necessity, granting someone power of attorney — in other words, giving someone you trust the authority to act as an agent on your behalf — can have many advantages.
But like any other legal issue, there are many rules that govern power of attorney. For example, did you know …
- That power of attorney is allowed in all states, but the rules differ from state to state?
- That more than one person can be given power of attorney to act on your behalf?
- That power of attorney can be limited to one particular activity, or be general in its overall application?
- That power may be either temporary or permanent?
- That power of attorney can be immediate, or related to a future event (for example, if a future mental or physical disability renders you incapable of acting on your own behalf)?
- That there are no special qualifications necessary to act as power of attorney, other than being of legal age?
- That in most states, power of attorney remains valid until you die or revoke the document?
An experienced attorney and Realtor can better explain the process of power of attorney, especially when property is involved. Be sure to educate yourself as much as possible before taking steps to appoint an agent to act on your behalf … and make sure your agent is also certain of his or her responsibilities!