We are all familiar with the term "attorney at law," but most of us are unfamiliar with the term "attorney-in-fact," even though most of us have heard of a power of attorney. A power of attorney is an authorization by a principal to an agent (attorney-in-fact) to act on behalf of the principal in certain business or legal affairs. This is often done when the principal is not able to act on their own behalf. Although in some instances a power of attorney may be oral, for most purposes, the law requires a power of attorney to be in writing. Many institutions, such as hospitals, banks and, in the United States, the Internal Revenue Service, require a power of attorney to be in writing before they will honor it, and they usually want to keep an original for their records.
How We Serve Our Clients
A written power of attorney is a simple document to draft, however, there are numerous legal considerations such as the scope or limit of the power of attorney, writing requirements, and the fiduciary duty of the agent to act in the best interest of the principal. At the Wenger law firm, we will work with you to draft an appropriate power of attorney for your legal and business affairs, as well as explain the fiduciary duties of the attorney-in-fact, to ensure that your rights and your property are property protected.
