A power of attorney is a legal document that allows a person to appoint someone to act on his behalf. The person appointing the other person is called the principal, whereas, the person appointed, is known as the agent. Whenever you need a power of attorney, using the power of attorney templates will save you a lot of time and effort, as compared to drafting the one yourself.
A power of attorney is usually used to assign some other person to take charge or control of your financial or legal matters, whenever you are incapacitated or incapable to perform these tasks efficiently. For better understanding, you can check some practical power of attorney templates that are given below.
Best Power of Attorney Templates
Power of Attorney Template
Power of Attorney Template
Power of Attorney Template
Power of Attorney Template
Power of Attorney Template
Power of Attorney Template
Power of Attorney Template
Power of Attorney Template
Power of Attorney Template
Power of Attorney Template
Power of Attorney Template
Power of Attorney Template
General Features of a Power of Attorney
A power of attorney can generally be classified into two types:
1. Special Power of Attorney:
A special power of attorney is also known as a limited power of attorney. It is a type of authority that a principal gives to its agent for a specific task or a specific transaction.
2. General Power of Attorney:
When a principal assigns general authority to his agent to act on his behalf, such an authority is assigned through a general power of attorney. A general power of attorney allows your agent to perform various tasks on your behalf, such as, filing tax returns and handling different financial and legal matters etc.
Whatever the type of a power of attorney is, this document has the following general features:
- The principal can revoke the power attorney any time he seems fit. However, at the time of such a revocation, the principal must be of sound mind.
- Whenever the authority is assigned to an agent through a power of attorney, that does not make him the owner of any property of the principal.
- A power of attorney clearly states the general rights and duties of the agent.
- Whenever a principal dies or becomes liquidated, the power of attorney will automatically be revoked.
- In case of a special or limited power of attorney, it is revoked once the task is performed or the purpose is fulfilled.
- A power of attorney also does not mean that the agent can manage or interfere in the personal matters of the principal.
Sample Power of Attorney Templates
Power of Attorney Template
Power of Attorney Template
Power of Attorney Template
Power of Attorney Template
Power of Attorney Template
Power of Attorney Template
Power of Attorney Template
Power of Attorney Template
Power of Attorney Template
Power of Attorney Template
Power of Attorney Template
Power of Attorney Template
Contents of a Power of Attorney Template
A power of attorney template must clearly include the following important information in it:
- The name, signatures, address and contact details of the principal.
- The name, signatures, address and contact details of the agent.
- The powers and duties of the agent granted to him through such a power of attorney.
- The things or activities that are outside the scope of the agent’s authority, mentioned separately.
- Date of commencement of authority and the termination date.
- The compensation that the agent will get for his services.
- The name, signatures, address and contact details of the person witnessing the signatures of the principal and agent.
