How You Can Make Sure You Have All Your ‘powers’ Intact
How You Can Make Sure You Have All Your ‘powers’ Intact Failure to uphold these duties, or any breach of these duties, may constitute power of attorney abuse. A large number of issues that happen in the context of NRIs are related to the Power of Attorney (POA). Yet many people still carry a lot of ambiguity in their minds about what this really is. A POA (Power of attorney) is a lawfully issued instrument that establishes a relationship between two people: The Principal and the Agent or Attorney-in-Fact. The person empowering the other to act is called the principal, grantor, or donor (of the power). The Principal thus assigns or authorizes the Agent to act on his/her behalf. It is a letter of attorney or written authorization to represent or act on Principal's behalf in private affairs, legal matters or in business by the Agent. The arrangement of POA is typically meant to ensure the fulfillment of the grantor’s wishes and decisions when the principal is not ava