Because of the birth of the internet and the computers, powers of attorney sent over the internet or those that are electronically given are accepted in some states and also in some countries. Remember though that regardless of the period stated on the contract, the power of attorney will be void once the principal dies. Probate hearings usually take time to complete, not to mention that you are going to incur more expenses than you would with a POA. Of course, why would you waste your time and money when there s a better alternative out there? Your POA can do practically any transaction on your behalf. Powers of attorney are also intended to avoid certain situations that may cause the court to choose a conservator or a guardian to act on everything on your behalf. The special power of attorney on the other hand only gives an agent the authority to act specific matters. For instance, you can authorize an agent to sign a business contract for you but only that business contract and no other documents. Some are also given a section, for instance, a special power of attorney to look into the financial matters and to manage it and sign documents pertaining only to financials. Ideally, this person should be someone whom you trust your life with. Comfort The person you will choose to be your agent must be someone who you are comfortable dealing with. On the process of drafting the power-of-attorney document, you will have to discuss all the terms in it, and it is important that the agent won t be too much of a headache for you. Specific issues would include bank transactions, debt collection, loan application, managing real estate property or businesses, making financial decisions and handling government financial or other concerns. Usually, this is given in a time when the principal is unavailable for a specific period of time like travel overseas, whether business or personal, and other commitments. You can just send a representative with the power of attorney and that person can sign the contract for you. But for all its benefits, the power of attorney can also be a bane when not done the right way and when put into the wrong hands. What is a power of attorney? Before we can discuss the advantages and disadvantages of using a power of attorney, you must first understand that exactly is the concept.
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