How does a Power of Attorney work?
A power of attorney is a written document which allows another person to legally act on your behalf. Powers of attorney can be specific and limited to certain things, or they can be general. For example, if you live out of state but own property in Florida, you can issue a power of attorney to a Florida resident to allow them to sell the property on your behalf. A power of attorney would allow the person given the power to sign a sales contract on your behalf. More common are general powers of attorney, which are usually signed by an older person to go give their spouse or child the ability to manage their affairs. A general power of attorney allows the person with the power to open or close bank accounts, buy or sell stock, and otherwise do anything legally on behalf of the grantor of the power.
