A power of attorney grants an individual, known as the agent or attorney-in-fact, the authority to act on behalf of another person, the principal. This authorization can encompass a broad range of decisions or be limited to specific actions. The termination of this legal arrangement is a crucial aspect to understand, as it directly impacts the agent’s capacity to continue acting for the principal.
The lifespan of a power of attorney is finite. Knowing the events that trigger its cessation is vital for both the principal and the agent. This knowledge provides clarity, avoids potential legal complications, and ensures the principal’s wishes are respected. Understanding the termination conditions also helps in proper planning and execution of legal and financial matters.
