Denver CFI Blog: Powers of Attorney

Powers of Attorney

A power of attorney is an authorization to act on someone’s behalf in a legal or business matter. It can be a useful tool when parents or pet caretakers need to ensure their child or animal companion will be properly taken care of during the parent or pet caretaker’s temporary unavailability. A power of attorney will work hand-in-hand with a pet trust, discussed here.

The person who is giving the power is referred to as the “principal” while the person who accepts responsibility of the power is called the “agent” or “attorney-in-fact”. Among other things, powers of attorney can be revocable, irrevocable, special or general, durable or non-durable. A durable power of attorney will remain in effect upon the principal’s incapacity. A non-durable power of attorney will not be effective upon the principal’s incapacity.

There are many options with respect to powers of attorney and you should fully understand what it is you need before you sign any legal documents.

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