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Understand the power. In a power of attorney, you name someone as your attorney-in-fact (or agent) to make financial decisions for you. The power gives your agent control over any assets held in your name alone. If a bank account is owned in your name alone, your attorney-in-fact will have access to it.

Changing the TermsThere is no accepted way to amend a power of attorney. If you want to change or amend a durable power of attorney, the safe course is to revoke the existing document and prepare a new one.Tom should revoke his old durable power of attorney and create a new one, granting the additional authority.

How to update your power of attorney. If you have an existing power of attorney form and you need to make changes, you should revoke your current document first. You can do that by using a revocation of power of attorney. Then, simply create a new Power of Attorney that includes the updates you want to make.

Suppose your ailing mother gives you a durable power of attorney, which means it will remain valid even if she becomes incapacitated. If you need to sign a check for her, the usual procedure is to write her name on the top line and then add your name and title underneath, Mr. Rubenstein says.

Determine your state's requirements. Consider durability. Find the correct power of attorney form. Discuss powers granted with your parent. Have the document notarized. Distribute copies to the parties involved.

A principal may grant power of attorney to multiple agents, either concurrently or jointly.Each agent has complete authority granted in the POA document. This may be a convenient way to accomplish the principal's goals. Joint agents must act together, making all decisions jointly.

If the agent is acting improperly, family members can file a petition in court challenging the agent. If the court finds the agent is not acting in the principal's best interest, the court can revoke the power of attorney and appoint a guardian. The power of attorney ends at death.

Through the use of a valid Power of Attorney, an Agent can sign checks for the Principal, withdraw and deposit funds from the Principal's financial accounts, change or create beneficiary designations for financial assets, and perform many other financial transactions.

You get power of attorney by having someone willingly and knowingly grant it to you in a signed legal document. He or she must be able to sufficiently comprehend what a POA document represents, understand the effects of signing it, and clearly communicate his or her intentions.

How to Gain Access to Bank Accounts with a Power of AttorneyReview the power of attorney document. The language of the document determines the powers of the agent.Determine the bank's requirements. Banks often have different requirements for powers of attorney.Have identification ready.