Kiritsis & Associates

 

What is power of attorney?

Jul 14, 2021

Kiritsis Law Group 212 922 0005

By: John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M


Generally, a power of attorney, would be the result of a written document that authorizes another person to act on his behalf as an attorney-in-fact.   A power of attorney, in some jurisdictions is often referred to as a letter of attorney (don’t confuse with an attorney opinion letter). The person who provides the authorization in a power of attorney document, is referred to as a principal, grantor or donor of powers. The person designated to act on the behalf of someone else, in a power of attorney document, is often referred to as the agent. The requirements needed for a legally enforceable power of attorney, could vary a lot, based on the jurisdiction and local legal customs, but generally must comply with a number of federal and state statutory laws. Caution should be exercised when using a standardized form to give power of attorney, due to: reliability concerns, constant changes in the law and different laws among different jurisdictions.

 

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