This often happens when the principal or the grantor (the one who is authorizing another person to act in their stead) is unavailable or not present when the deal comes through. This is very common among executives of corporations especially those in the higher ups, who need to take care of business in all parts of the globe. The person who will act as your attorney-in-fact or agent Take time in choosing the right agent who you will trust to carry out your financial tasks with your best interest in mind. Here are some of the characteristics that you should consider when selecting your financial agent: Financial savvy Trustworthy and comfortable to work with Can devote enough time to perform the required financial responsibilities Accessible and lives near your residence so that you can easily discuss with him or her any pertinent concern about your POA Can commit to carry out his or her duties as an agent if you are unable to handle your finances for a long time Once you have chosen an agent, don t forget to discuss the tasks, including the financial duties involved. The power is granted to an attorney-in-fact or agent that would have the authority to decide on different matters. The person who is granting the authority would, of course, identify the scope of the mandate. It could be the specific or the general power of attorney. There is a specific power of attorney which requires the attorney-in-fact deal with only one particular issue. Be reminded that it is your right to revoke any authority you provide a person through a power of attorney anytime. You should accomplish a revocation form and distribute copies to all institutions and agencies that could be concerned with transactions, including hospitals and banks. Your agent should also formally receive a copy of that revocation. That is why it very important to choose and appoint a person whom you fully trust. You should not appoint just about anyone. Before you choose an agent of an attorney-in-fact for your special power of attorney, it would be best to ask yourself the following questions first. Do you trust the person? The best thing you should establish is trust on the person you are appointing as an agent. This can be a son or daughter, a parent or other close relations. Do not be fooled with the name. Anybody can be given the power of attorney, even people who are not lawyers, although most of those who are given such responsibilities are family lawyers of rich people or corporate lawyers of big corporations, whose job entails them to represent the CEOs or the big bosses, which are often required to be in three places at the same time, which is of course, not humanly possible.