Power of Attorney: POA Meaning, Scope, Types and Format
A power of attorney (POA) is a legal document that vests the power to act on behalf of another person in a designated individual. Consequently, a POA authorises the agent or the attorney-in-fact to act on behalf of the principal. Decision-making power concerning the principal’s assets, finances, investment, and health care might be granted as broad authority or limited. Financial and healthcare POAs are the two primary categories; both grant the attorney-in-fact broad or restricted authority.