A mother may wish to give her adult son a GENERAL power of attorney, granting him the authority to handle all of her financial affairs. A businessman who is going to be absent from his place of business for an extended period may wish to leave a SPECIAL power of attorney with a trusted employee, to handle his business affairs while he is away.
The key element in granting a power of attorney is trust. The grantor should have complete faith in the person granted power of attorney, as he or she will have unbridled use of the grantor's assets while in force. Any misuse or embezzlement by the person can be a crime and subject to a civil action for return of assets.
With the use of this Power of Attorney Kit, you can set up your power of attorney to include (but are not limited to) the following powers: Real estate transactions; Chattel and goods transactions; Bond, share and commodity transactions; Banking transactions; Business operating transactions; Insurance transactions; Claims and litigation; and virtually any other matter for which you require the assistance of your attorney-in-fact.
The forms for the Power of Attorney are simple to prepare. Just fill in the blanks, sign in front of witnesses and a notary, and the document is immediately legal. Once the completed forms are given to the attorney-in-fact, he or she may make copies to use in the transaction of the grantor's business. Once granted, the power of attorney remains in effect until revoked by the grantor; that is the reason that we have also included in this kit a Revocation of Power of Attorney form. This form is to terminate such power. The grantor simply signs the Revocation of Power of Attorney form in front of witnesses and a notary and delivers it to the attorney-in-fact.