Power of Attorney

A power of attorney is a file giving way to an attorney–in-fact, which can be any knowledgeable adult, with the authority to make specific decisions in place of the individual giving that authority. The attorney-in-fact operates as the individual´s agent and the power of attorney file allows his or her actions over what the individual states. In most cases the power of attorney approves the management of the individual´s financial transactions. The individual is able to take away the authority and can do so by canceling it or setting a time limit on the authority or the authority ends when the individual dies.