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November 22, 2011
A power of attorney template is required whenever one person needs to assign rights to conduct transactions for another person. This could be to authorize someone to oversee personal finances, conduct business transactions, or act as an agent for nearly anything a person does in their daily life.
The power of attorney template makes executing this legal document quite simple. The person writing the POA is referred to as the Principal and the person receiving authorization is referred to as the Attorney-in-Fact, or Agent.
Anyone can be designated as an agent, as long as they are of legal age. It's common to assign rights to spouses, relatives, business partners, realtors, financial planners, lawyers, and accountants.