Power Of Attorney
Q: I was wondering how you would go about setting up a 'power of attorney'. I am in the UK and want to pass this power onto someone in the United States. Is it possible to do this yourself (rather than going through an attorney)? Also, what powers can be granted? (ie, taxes, selling an automobile etc...)
A: -Interesting choice of law question. Classic choice of law principles say that you go with the law of the domicile of the principal (UK), but if the power is going to be exercised in the U.S., it might be better to use a form that is familiar to the banks, brokerage firms, title insurance companies, or other institutions where the power will be exercised. The basic principle of a power of attorney is based on common law, and I believe it works in the UK as well as the US. The trick in the US is that statutes in every state now say that a power of attorney can survive the incapacity of the principal, so a power of attorney is a substitute for guardianship proceedings. (At common law, the incapacity of the principal also incapacitated the agent.) Most power of attorney forms are pretty routine, so if you can find a good form, you don't really need a lawyer. As for forms, I don't have mine on line yet, but you might be able to find one in the Lectric Law Library, http://www.inter-law.com In theory, you should be able to delegate any power that you yourself could exercise, unless there's a statute or principle of law that says you can't delegate the power. Granting power to buy and sell real estate, cars, securities, and other investments is routine. (In order to sell real estate, the power has to be in recordable form, which means that it has to be witnessed and notarized.) In Pennsylvania, statutes also say that you can authorize an agent