Navigating the agent’s power to gift under power of attorney (POA)
Such power can come at a cost and expose agents to liability — especially when gifts benefit themselves.
Published
A power of attorney (“POA”) is a document that appoints another — known as the “attorney-in-fact” or “agent” — to act in the principal’s place for business, financial, legal, or other purposes, often when the principal cannot do so on his or her own behalf. There are various types of POAs, and the terms and