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A power of attorney is a legal document that gives one person (the attorney) the right to act on behalf of another (the principal) in certain situations. A trust is a legal arrangement wherein some person (the trustee) is designated to manage the property of another (the grantor or settlor) for the benefit of a third party (the beneficiary).
Statutory Powers of Attorney Any writing or other record that grants authority to a person to act for another person will be read as a power of attorney. A power of attorney need not say âpower of attorneyâ on it. Read the Law: MD Estates & Trusts Â§Â§17-101. The Maryland General and Limited Power of Attorney Act created a specific kind of power of attorney called a âstatutory form power of attorney.â