The document discusses the need for a new power of attorney (POA) statute in Virginia. It summarizes the results of a 2002 survey that showed the need for a comprehensive statute addressing issues like agent authority, fiduciary duties, and third party acceptance of POAs. The proposed Uniform Power of Attorney Act (UPOAA) provides default rules and protections for principals and agents to address these issues and make POAs more uniform, flexible, and protective. It also outlines the key provisions and recommendations for enacting the UPOAA in Virginia.