You should be very cautious when handing over power of attorney; here's why

It is important to spell out the specific areas in which the agent can act on your behalf

Many professionals, businessmen and high-ranking corporate executives have such busy schedules that they need to delegate certain duties to others. Sometimes, this can include crucial tasks such as carrying out property transactions and executing contracts. That is when the power of attorney (PoA) comes in handy. While using PoA is definitely convenient, it also carries certain risks and is not something that one should do without due thought and care.

What is a PoA? : PoA is a document that gives a person the legal powers to act on behalf of another. It can be used to hand over power