Difference b/w poa & notice of engagement

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Querist : Anonymous

Querist : Anonymous (Querist)

30 December 2011 Dear Expert,
Plz tell me difference between Power of Attorney and Notice of Engagement.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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31 December 2011 A power of attorney is a legal document wherein one person (the Granter/Principal) appoints another person or organization to act as an agent on his or her behalf. The granter delegates his authority to the agent to perform certain acts or functions on his behalf. The person or organization you appoint is referred to as an "Attorney-in-Fact" or "Agent." Legal will and power of attorney has a close relationship. Whenever a testator creates a Will, he definitely requires a person to enforce his Will according to his wishes. Therefore, executor works in the same way as an agent work in power of attorney.

Purpose of Power of Attorney
Coming to power of attorney, it enables a principal's affairs to be managed by a person of their choice when they are unable to conduct them personally, such as if they are ill, travelling overseas or become mentally incapacitated.

Types of Powers of Attorney
General Power of Attorney: This is where you appoint someone, usually for a specific period of time, to make financial or legal decisions for you.

Health Care Power of Attorney: A Health Care Power of Attorney is a document that allows you to designate a person (an "Agent") who will have the authority to make health care decisions on your behalf if you are unconscious, mentally incompetent, or otherwise unable to make such decisions

Special Power of Attorney: A special power of attorney allows you to give only specific powers to the person or organization you appoint as your Agent.
For example, you could authorize someone to sell a car or a house for you

NOTICE OF ENGAGEMENT REGARDING INFORMATION LINK IS:

http://www.riggscpa.com/Tax_Engagement_Letter.pdf

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