None of us want to be incapacitated.  Most of us never expect to be incapacitated.  It happens nonetheless.  On a happier note, you may well want someone to be able to take care of business back home while you are on that extended vacation you have been planning.  Powers of attorney for business purposes can do just that.

A power of attorney for business purposes should help you do some or all of the following:

Pay Bills

Negotiate with Creditors

View, control, open, close and use bank and brokerage accounts


Hire and Fire

Sue and defend suits

Deal with real property

Manage your business

Get things repaired

Amend agreements

Borrow money

The list can go on depending on your particular needs.

As you can see, these documents put a good deal of power in the hands of the person you make your attorney in fact (the person who acts under the power of attorney.)  The key here is BE CAREFUL.  What you do not want is to have to hire an attorney to chase after assets that have disappeared.  There are mechanisms for protecting you.  You can read about them [here.]

As a general matter while a standard power of attorney should provide for dealing with real property, it is probably best to craft a specific power of attorney if someone is going to show up and sign documents at a closing on a purchase of real property like a home.  Making the document specific assures later buyers that there was no mistake and assists in later buyers being able to get a loan to purchase the property.  Most title attorneys will record the document that allows someone other than the principal to sign along with the deed.  Standard powers of attorney are long and therefore expensive to record.