Continuing Power of Attorney for Property

A Continuing Power of Attorney for Property document becomes valid as soon as it is signed, even though most people only intend for it to be used in situations where they become incapable of managing their own affairs. Great caution must be exercised to ensure that any limitations, regarding types of property to be managed or a specific event which triggers the use of the attorney, are expressed clearly to prevent any ambiguity. If the meaning of the condition is uncertain, third parties may not recognize the authority of the attorney to act.

Care must be taken to ensure that the document is not easily accessible for potential misuse. For this reason, when lawyers prepare the document for their clients, they often will keep custody of it along with an "escrow letter" that instructs the law firm as to when it should be released to the named attorney.