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In a statutory power of attorney, the language granting power with respect to estate, trust, and other. beneficiary transactions empowers the agent to act for the principal in all matters that affect a trust, probate estate, guardianship, conservatorship, escrow, custodianship, or other fund from which the.
DEFINITION of 'Power Of Attorney'. A legal document giving one person (called an agent or attorney-in-fact) the power to act for another person (the principal). The agent can have broad legal authority or limited authority to make legal decisions about the principal's property and finance.