How to give power of attorney and how to revoke power of attorney?

Did you ever wonder who would take care of your financial affairs if you were suddenly hospitalized? Unless you and your spouse she ownership of bank and checking accounts, your family could be Ieft without access to funds held in your name only.

To avoid such a situation, tell your lawyer that you want to give your spouse (or a trusted friend or adviser) a power of attorney so that he or she can act in your place if you are unable to do so.

Your lawyer will prepare a document called a power, or letter, of attorney that spells out exactly what powers you are giving to the person. The law requires that you put a power of attorney in writing and that you sign it before a notary public; otherwise, anyone could claim to act on your behalf.

You can revoke your power of attorney at any time, but put it in writing to protect yourself. If you hold a power of attorney and need to sign a check or other document, sign it with the other persons name, then your name, and the phrase “Attorney in fact.”