An honor and a responsibility As agent, you will have the right and responsibility to make financial decisions for the principal if he or she ever loses the ability to make those decisions. You should feel honored that someone trusts you enough to task you with this, but it is an enormous responsibility. If you…

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Power of attorney must be done right What is power of attorney? It is the power to make legally binding decisions on behalf of another. Non-durable financial attorney ends when the person granting it is incapacitated. Durable attorney continues. If you are going to be named as a trustee or attorney-in-fact, you will want an…

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Financial power of attorney (The following are dramatizations.) Mr. Parker was still in reasonably good health, physically and mentally, but he remembered the decline of his own parents thirty years ago and suspected his luck would not hold out. He decided to draw up a financial power of attorney, so as to protect his assets…

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The sad story of an inadequate power of attorney (The following is a dramatization.) When Mr. Jones Jr. learned that his father was planning to grant him durable financial power of attorney, he considered it a great honor and a great statement of trust. It meant that he would be able to make legally binding…

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What you should know about power of attorney If you are growing older and worrying that at some point in the future you may lose the ability to make important decisions for yourself, or if you worry that a close relative may become incapacitated, you should understand power of attorney. Power of attorney is simply…

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Various powers of attorney Power of attorney is the power to make decisions on behalf of another. In the case of non-durable power of attorney, this ends when the person granting the power is incapacitated. Durable power of attorney, on the other hand, continues. If you are growing older, you may be thinking of granting…

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How to understand the power of attorney Understanding power of attorney:  As you grow older, you may wish to designate someone with durable power of attorney. This means naming someone who will have the power to make decisions on your behalf in the event that you lose the power to make those decisions yourself, especially…

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  How power of attorney works Power of attorney gives another person legal authority to take actions on your behalf. This could be tasks as small as signing checks for your bills or as big as selling your home or car. That’s the simplest explanation, but there are a couple of things that make handing…

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