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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.
You create a legal relationship in which you are the principal and the person you appoint is the âattorney-in-factâ or agent. A Power of Attorney specifies the powers you give to your attorney-in-fact. The powers can be limited or broad.