| A Power of Attorney is a legal agreement in | | | | Revocation of a Power Of Attorney must be |
| which the principal ("non-incapacitated" person) | | | | done by the principal, he/she must not be |
| gives authority to the agent or attorney-in-fact to | | | | incapacitated and he/she must put the revocation |
| act in place of the principal. The agent will have | | | | in writing. Then a copy of the written notice of |
| the power to open bank accounts in your name, | | | | the revocation should be sent to whomever it |
| bring suits in your name, and can sign legal | | | | interests. |
| documents for you among other things. As soon | | | | The great thing about a power of attorney form |
| as the power of attorney agreement is signed it | | | | is that its really simple, straightforward and an |
| is "executed", or legally binding. A power of | | | | easy way to convey power to an agent. |
| attorney form is no longer legal upon death of the | | | | Executing a power of attorney form could cost |
| principal or upon revocation of the agreement. | | | | you as little as ten dollars while giving someone |
| Creating A Power Of Attorney Agreement can | | | | guardianship requires you to pay court fees. You |
| be very inexpensive if done yourself. A power of | | | | can also use a power of attorney agreement to |
| attorney agreement must be in writing, and the | | | | protect the rights of the principal. |
| principal executing the power of attorney must | | | | One disadvantage a power of attorney form may |
| have the legal capacity. Most states do require | | | | be to you, is that it becomes effective |
| the agreement be notarized or witnessed. | | | | immediately after it is executed. |