The general power of attorney

THE GENERAL POWER OF ATTORNEY 3

Thegeneral power of attorney

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Thegeneral power of attorney

Somepeople own vast resourcesthat they aresometimesnot in a positionto managethem. Sometimes,there is needto employtheservicesof anotherpersonoran organizationto managetheseresourceswhentheowneris not in a positionto takecareof them. Thegeneralpowerof an attorneydoesnot limittheactionsthat an agentcan perform.Itis differentfrom thespecificpowerofan attorneythat outlinesthelimitsof an agent’sactivities(Tilse et al. 2014).

Thegeneralpowerofan attorneygivesanotherindividualoran organizationthenlegalcapacityto representtheownerof theresources.With thesepowers,theattorney–in-fact can executebusinesstransactionson behalfof theowner.Theagenthas thepowerto decidethedirectionthatthebusinesstakesas wellas makingmajordecisionsforthebusiness.Thepowersalsogivetheagentauthorityto settleanyfinancialdebtsowedby thepersonin questionas wellas collectingthedebtsowed.Theagentcontrolsthefinancialtransactionon behalfof theindividualsthat includespayingtaxesandmortgagesandmanagingthebankaccounts.Theattorney-in-fact alsoseeksprofessionalhelponbehalfof theowneron mattersrelatingto their healthandlegalmatters(Tilse et al., 2014).

Theextentof thepowerof an attorneydoesnot havea limitationon theactivitiesthatan agentcan do.However,thepowerscan beterminatedin theeventof thedeathof thepersonwhosoughttheservicesof theagent.Thoughtheyare far-reachingandregardedas toomuchby somepeople,theagentbecomeslegaltrusteesto actforthebestinterestof thepersonin question.

References

Tilse,C., Wilson, J., White, B., Willmott, L., &amp McCawley, A. L.(2014). Enduring Powers of Attorney: Promoting attorneys`accountability as substitute decision makers. Australasianjournal on ageing,33(3),193-197.