What is a power of attorney?

A power of attorney (POA) is a document that gives someone else the legal authority to act on your behalf. It is used when you are unable to make decisions for yourself or to take certain actions because of illness, disability, or absence. In Tennessee, a POA gives a person, called an “agent,” the power to make legal decisions and take action on behalf of the person creating the POA (the “principal”). The POA document can be individualized to give the agent authority over certain decisions, such as real estate transactions, or over more general decision-making. This is important in Trusts and Estates Law because a POA can be used to protect the principal’s financial interests if they become incapacitated, such as through illness or injury. It also allows the principal to designate someone to make decisions about their financial and medical affairs if they become unable to do so themselves. Having an up-to-date POA in place is essential for property and estate planning in Tennessee.

Related FAQs

What is a trust administration?
What is a trust?
Can I change the terms of a trust?
What is a special needs trust?
What is a revocable trust amendment?
What is a will?
What is a tax-free trust?
What is a generation-skipping trust?
What is a trust protectorship?
What is an asset protection trust?

What is a power of attorney?

Related FAQs

Related Blog Posts