A power-of-attorney, or POA, form lets individuals choose another person or organization to handle their legal, financial or health-care matters if they are unable to take care of them on their own. A person who has a power of attorney is known as the principal, according to Quicken Loans Incorporated.Continue Reading
The person or organization selected to represent the principal is known as an agent or attorney-in-fact, explains the Maryland State Law Library. The principal must sign the power of attorney, also known as a letter of attorney, and must be mentally sound at the time of signing for the document to stand up in a court of law.
All powers of attorney end when the principal dies; at that time, agents may no longer sign for the principal. Signing after the principal's death could have negative consequences for the agent in a dispute with creditors or the principal's heirs.Learn more about Law