Selecting an Agent

When selecting an Agent, it is advisable that the Principal designates one or more successor Agents to act in case the primary agent is unable to act. It is important to select a responsible person who is financially experienced and able and willing to act on behalf of the Principal. When a power is exercised by an Agent, the agent must use due care and act in accordance with the terms of the Power of Attorney for Property, otherwise, the agent may be liable for negligent or wrongful exercise of those powers. The Agent should maintain a record of all receipts, disbursements, significant actions taken, and a listing of all persons and businesses with whom the Power of Attorney was used.