A business power of attorney can give an adult child authority to make decisions involving a company, its property, or the owner’s financial interests. If that authority reaches a business sale, timing can become a serious issue because revoking the document may not immediately stop every third party from relying on it.
The tricky part starts with the word “business.” Owning an LLC membership interest, owning corporate shares, and owning the equipment inside a company create different legal interests. The power of attorney needs to match the specific authority involved, and state law controls many of the details.
