When is it necessary to grant power of attorney?
I see two circumstances requiring the need for a power of attorney and I would like to say, parenthetically, that I do not believe powers of attorney should be routinely prepared as part of an estate plan because there is the obvious possibility of abuse. I have prepared powers of attorney in situations where a client had a disability or was, perhaps, going to be out of the country for a while. In these situations, power of attorney is granted for the limited purpose of being represented in a sales transaction or some kind of negotiation relating to a business sale etc, or where a client is or may soon be mentally or physically incapacitated and needs somebody else to do things for him or her.