What is a power of attorney?

A power of attorney is a legal document used in Maryland that gives another person the authority to act on your behalf in legal matters. This can include managing your bank accounts, making medical decisions, or executing contracts on your behalf. This document is valuable if you become incapacitated or if you are unable to handle your affairs due to an illness or other event. A power of attorney document is a contract between two people, the principal and the agent. The principal is the person granting the authority and the agent is the person designated by the principal to act on their behalf. This document outlines the powers and responsibilities of both the principal and the agent and provides specific instructions as to how decisions should be handled. In Maryland, the power of attorney document must be signed and notarized in the presence of two witnesses. It should include the full names and addresses of both the principal and the agent. The document must also have a clear and understanding description of the type and scope of the agent’s powers. The power of attorney becomes effective immediately following the signing of the document. The agent does not gain any authority over the principal’s assets until the power of attorney is signed. Moreover, once the document is signed, the principal no longer has any control over the assets granted by the power of attorney and the agent is obligated to act within the document’s terms.

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What is a power of attorney?

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