power of attorney

(redirected from Poa)
Also found in: Dictionary, Thesaurus, Medical, Financial, Acronyms, Encyclopedia, Wikipedia.

Power of Attorney

A written document in which one person (the principal) appoints another person to act as an agent on his or her behalf, thus conferring authority on the agent to perform certain acts or functions on behalf of the principal. Powers of attorney are routinely granted to allow the agent to take care of a variety of transactions for the principal, such as executing a stock power, handling a tax audit, or maintaining a safe-deposit box. Powers of attorney can be written to be either general (full) or limited to special circumstances. A power of attorney generally is terminated when the principal dies or becomes incompetent, but the principal can revoke the power of attorney at any time.

A special type of power of attorney that is used frequently is the "durable" power of attorney. A durable power of attorney differs from a traditional power of attorney in that it continues the agency relationship beyond the incapacity of the principal. The two types of durable power of attorney are immediate and "springing." The first type takes effect as soon as the durable power of attorney is executed. The second is intended to "spring" into effect when a specific event occurs, such as the disability of the principal. Most often, durable powers of attorney are created to deal with decisions involving either property management or health care.

Durable powers of attorney have become popular because they enable the principal to have her or his affairs handled easily and inexpensively after she or he has become incapacitated. Before the durable power of attorney was created, the only way to handle the affairs of an incapacitated person was to appoint a guardian, a process that frequently involves complex and costly court proceedings, as well as the often humiliating determination that the principal is wholly incapable and in need of protection.

With a durable power of attorney, on the other hand, a principal can appoint someone to handle her or his affairs after she or he becomes incompetent, and the document can be crafted to confer either general power or power in certain limited circumstances. Because no judicial proceedings are necessary, the principal saves time and money and avoids the stigma of being declared incompetent.

The concept of the durable power of attorney was created in 1969 when the National Conference of Commissioners on Uniform State Laws promulgated the Uniform Probate Code (U.P.C. § 5–501). Ten years later, the provisions of the code dealing with the durable power of attorney were modified and published as the Uniform Durable Power of Attorney Act (UDPA). All fifty states recognize some version of the durable power of attorney, having adopted either the UDPA or the Uniform Probate Code, or some variation of them. Versions of the durable power of attorney vary from state to state. Certain powers cannot be delegated, including the powers to make, amend, or revoke a will, change insurance beneficiaries, contract a marriage, and vote.

Further readings

Insel, Michael S. 1995. "Durable Power Can Alleviate Effects of Client's Incapacity." Estate Planning 22 (February).

Rains, Ramona C. 1996. "Planning Tools Available to the Elderly Client." American Journal of Trial Advocacy 19 (spring).

Cross-references

Living Will.

power of attorney

n. a written document signed by a person giving another person the power to act in conducting the signer's business, including signing papers, checks, title documents, contracts, handling bank accounts and other activities in the name of the person granting the power. The person receiving the power of attorney (which means agent) is "attorney in fact" for the person giving the power, and usually signs documents as "Melinda Hubbard, attorney in fact for Guilda Giver." There are two types of powers of attorney: a) general power of attorney which covers all activities, and b) special power of attorney which grants powers limited to specific matters, such as selling a particular piece of real estate, handling some bank accounts, or executing a limited partnership agreement. A power of attorney may expire on a date stated in the document or upon written cancellation. Usually the signer acknowledges before a notary public that he/she executed the power, so that it is recordable if necessary, as in a real estate transaction.

power of attorney

an authority given by one person to another to act in his absence.

POWER OF ATTORNEY. Vide Letter of attorney, and 1 Mood. Or. Cas. 57, 58.

References in periodicals archive ?
This section complements the reforms discussed above that place an agent on notice of the repercussions of POA abuse.
It has to have its execution supervised by an attorney and be executed simultaneously with the POA.
Exceptions, however, include General/Durable POA when submitted with a completed FTB 3520 attached, and military Durable POA.
The POA must contain certain advisory language, including a section entitled "Caution to the Principal" and another entitled "Important Information for the Agent.
Since 1976, POA has grown to become an independent dealership with 20 locations throughout Washington, Oregon, California, Arizona, New Mexico, Utah, Idaho, and Colorado.
The first matter a practitioner should resolve when confronted with a foreign POA is to determine whether the POA will be recognized and valid under Florida law.
Other charter members of the POA Committee are Judd Austin (Dallas), Bob Burton (Austin), David Conoly (Corpus Christi), Connie Heyer (Austin), Marc Markel (Houston), and chair Austin Barsalou (Houston).
But on checking the books of the Cyprus Agricultural Payments Organisation (CAPO) -- the local liaison for disbursing the programme funds -- the then Auditor-general discovered a discrepancy between the invoices issued by POA -- the assigning authority -- and payments made into the programme by CAPO.
We used the PDD from 2005 because POA reporting accuracy was available for this year from the California PDD Validation Study.
P received a consultation request that asked whether a patient with compromised medical decision-making powers nonetheless had the current capacity to choose a new POA.
That suit seeks to recover $20,544 the Clarys allegedly owe in past-due quarterly POA payments, dating back two years.