A power of attorney or letter of authorization is simply a written authorization in law to act or perform on behalf of another person, business, or any legal matter. The individual authorized to act is usually the principal, grantor, attorney, or beneficiary. Under the law, there is a close relationship between a principal and the agents or solicitors. For help with Power of Attorney and Will Writing Cheltenham, visit https://beesandco.com/our-services/will-writing-service-cheltenham/
There are different types of powers of attorney that can be defined and mentioned in the law. For example, there are different types of powers of attorney for estate transactions, for financial matters, for medical matters, for education, and for manufacturing. Therefore, if you are confused about what is power of attorney, it would be wise to consult a solicitor who specialises in this type of law who could explain the different types of powers of attorneys and the scope of each one.
The important thing about having a Power of Attorney is that it is a legal document drawn up by an individual. It gives the responsibility to another person to handle and manage some legal affairs on behalf of someone else. Although it is not an absolute permission to do anything, it gives the agent some power and control over certain business transactions.