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However, if the principal does not inform third parties and it is reasonable for the third parties to rely upon the power of attorney being in force, the principal might still be bound by the acts of the agent, though the agent may also be liable for such unauthorized acts
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https://en.wikipedia.org/wiki/Power_of_attorney
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Power of attorney
A power of attorney (POA) or letter of attorney is a written authorization to represent or act on another's behalf in private affairs (which may be financial or regarding health and welfare), business, or some other legal matter
https://en.wikipedia.org/wiki/Bankruptcy
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https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax
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https://www.uscourts.gov/services-forms/bankruptcy
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https://en.wikipedia.org/wiki/Probate
A probate also officially appoints the executor (or personal representative), generally named in the will, as having legal power to dispose of the testator's assets in the manner specified in the testator's will
https://en.wikipedia.org/wiki/Estate_planning
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https://en.wikipedia.org/wiki/Trust_law
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Sites: en.wikipedia.org (5) · www.irs.gov (1) · www.uscourts.gov (1)