Power of attorney

A legal instrument authorizing one person, the agent, to act on another person’s behalf in specified matters. Its scope and duration depend on its terms and applicable law.

Principal (law): A person who authorizes another to act on their behalf in a legal relationship. The principal grants the authority and defines its permitted scope.
Durable power of attorney: A power of attorney that remains effective after the principal becomes incapacitated, where permitted by law. Durability preserves authority through a later loss of capacity.
Financial power of attorney: A power of attorney authorizing an agent to handle specified financial or property matters. It can cover tasks such as managing accounts, paying bills, or handling transactions.
Guardianship: A court-supervised legal arrangement authorizing a guardian to make decisions for a person found unable to manage specified affairs. Unlike a privately granted authorization, guardianship generally arises through court proceedings.
Agent (law): A person authorized to act on behalf of another within a legal relationship. The agent exercises the authority granted by the power of attorney.
Springing power of attorney: A power of attorney that becomes effective only after a specified event or condition. Its delayed start contrasts with authority that begins upon signing.
Medical power of attorney: A legal instrument appointing someone to make health-care decisions when the principal cannot do so, as defined by local law. It assigns decision-making authority for medical care under specified conditions.
Conservatorship: A court-appointed arrangement for managing another person’s property or financial affairs, with details varying by jurisdiction. It can supply court-supervised financial management when private authority is unavailable or insufficient.
Agency (law): A legal relationship in which an agent acts on behalf of a principal. A power of attorney is a document that can establish or evidence this relationship.
Revocation of power of attorney: The cancellation of authority previously granted under a power of attorney. A competent principal can generally end the agent’s authority by revoking it.

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