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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.
Shares & Saves. Save. A power of attorney document gives you the authority to act as an agent or attorney-in-fact for an individual known as the principal.. As a POA agent you operate in a fiduciary capacity, and, depending on the terms of the POA, your responsibilities may include paying bills and debts. However, as an attorney-in-fact you have no claims on the assets of the principal, and neither do you have responsibility to pay the principal's debts with your own money. Other People Are Reading.