![]() You may choose to grant your attorney-in-fact immediate powers so that they can assist you with your day-to-day financial needs. An agent under a durable power of attorney for finances is also called an attorney-in-fact. Durable Power of Attorney for FinancesĪs the name suggests, a durable power of attorney for finances appoints your chosen agent to manage your financial and business affairs. can help you secure your future by creating various powers of attorney to address your particular needs. Nichols, Sacks, Slank, Sendelbach, Buiteweg & Solomon, P.C. You may revoke a power of attorney in writing at any time as long as you have the legal capacity to do so. A power of attorney may be very limited, such as granting authority to act on your behalf in a single financial transaction or broad, allowing your agent access to all of your financial affairs. You can and in most circumstances “should” create a power of attorney that is “durable,” meaning it continues in effect if you become legally incapacitated. That person is called your agent, and the extent of their authority is determined by the document that grants it.ĭepending on your needs, you can make a power of attorney effective upon your signature or not until you are incapacitated (called a “springing” power of attorney, because it springs into effect only when needed). In essence, a power of attorney is a document through which you give someone you trust the authority to act on your behalf. ![]() ![]() ![]() Powers of attorney (POA) are an essential part of your estate plan. ![]()
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