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If you are planning your life and want everything thing to be in right just in case, then Power of Attorney is something you should pay special attention to.

Power of Attorney is valid in all states across the US and it gives one or more persons the right or power to act on your behalf. The power or right to act on your behalf can be limited to one particular activity or it can empower a person to act on your behalf in a variety of situations.

A Power of Attorney can either come into immediate effect or it can be exercised on occurrence of an event in future. The right to act on your behalf can be temporary, continuous or permanent.

Should you want to revoke the Power of Attorney given to a person, it can be done so. However, most states in the US require a written notice of revocation.

Most people wonder why is it necessary to give another person power to act on their behalf. The answer is actually very simple. It is all about convenience. If you are buying or selling assets, you may not want to be present always to close the deal. Power of Attorney allows another person or persons to close the deal on your behalf. However, the most important use of Power of Attorney comes with you are incapable of acting on your own behalf. This could be due to an accident, illness or you might be traveling. It allows another person to act on you behalf so that nothing is stalled and things can function.

In case you are unable to manage your personal or business affairs, and do not have a Power of Attorney, then the court may appoint a person to act for you. You will not have a say as to who should be appointed. However, with a Power of Attorney, the right to choose a person and the limits of the authority they have is up to you.

If you do not have a Power of Attorney, it is about time you started thinking about one. It will remain valid once you sign it and it will stay valid until you die or revoke it.

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