How much authority is given to the agent under a Power of Attorney for Property?
A Power of Attorney for Property can be very specific in nature detailing only certain actions the attorney-in-fact is assigned, or it may be broader in scope giving the agent the authority to manage all of the principal’s financial affairs—business and personal. It can become effective at the time of execution, or it can ‘spring’ into effect when triggered by an event such as disability or other triggering incident. Any acts performed by the agent bind the principal as if he or she personally took the action.
