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What is a Power of Attorney?

A power of attorney is a legal document made by one person "principal" that allows another person to do things with the principal's money, bank accounts, shares, real estate and other assets. This can include spending and managing the principal's money, buying or selling shares for the principal or buying, selling, leasing or mortgaging the principal's house or other real estate.

The main types of Power of Attorney are:

  • General or Ordinary Power of Attorney - will terminate if the principal loses mental capacity. It is useful for a short term appointment, for...