What is Power of Attorney?
Sunday, March 8th, 2009
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Power of Attorney is a legal document where one person authorizes another to act on his/her behalf. It allows that authorized person to manage business and/or financial affairs when one person is no longer able to do so. It may be required due to illness, overseas travel or mental incapacity.
Why is it important to organise a Power of Attorney? Should you be considered incompetent to deal with your finances - you need somebody else to be authorised to deal with your affairs. A Power of Attorney document allows you to choose the person, with defined authority and limits if desired, the power to protect, or re-arrange, your assets.
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