What is the primary function of a universal agent?

A universal agent is empowered to act on behalf of a principal in a wide range of matters, not just limited to a specific act or category of acts. This type of agent has broad authority and can make decisions and take actions in virtually any aspect affecting the principal’s interests. For example, a universal agent could handle financial matters, legal decisions, and personal affairs, effectively stepping into the shoes of the principal.

The primary function of a universal agent contrasts with other types of agents, such as general or special agents, which have limited scopes of authority. A special agent might only handle specific tasks, such as managing a particular real estate transaction, while a general agent may have broader authority but still within predefined limits. Therefore, stating that a universal agent acts on behalf of the principal in all matters accurately reflects the extensive range of responsibilities and rights granted to them.

This broad agency relationship exemplifies trust and flexibility, as the principal delegates a significant amount of power and responsibility to the universal agent, allowing them to act in various situations without needing to seek approval for every action.