POWER OF ATTORNEY is a document that an individual, referred to as the “Principal,” signs to give another individual or several individuals , referred to as the “Agent(s)” or “Attorney-in-Fact,” some legal authority regarding the Principal’s income and assets. In the Power of Attorney the Principal specifies the amount of power given to the Attorney-in-Fact, and this individual can be given the authority to deal with only one particular issue (a specific power of attorney), or to handle most of the Principal’s personal and financial matters (a general power of attorney). In addition, the Principal will designate when the power shall become effective, for example, the Principal may only want it to become effective upon their incapacity. The Agent(s) is responsible for keeping accurate records of all transactions that he or she makes on behalf of the principal. Our office frequently guides clients on all aspects of Powers of Attorneys and designs, prepares and assists in executing ones that are their specific to their needs.