![]() ![]() Regardless of the type, your agent will typically need to present the actual POA document to act on your behalf. There are four main types of financial power of attorney: The power your agent has may be temporary or permanent and may take effect immediately or only in certain situations-depending on the type of power of attorney. Your agent doesn't need to be an attorney but does need to be at least 18 years old. The person named to act on your behalf is called your agent or attorney-in-fact. Types of financial power of attorneyĪ financial power of attorney is a legal document that allows you to name someone to make financial decisions and transactions for you. Working with an attorney to draft POA documents can help ensure that you make the right choice. To clear up any confusion, here’s what you need to know about the different types of power of attorney. ![]() Otherwise, you might run into trouble when trying to help your parent with financial and medical matters. If you’re a financial caregiver for a parent or a loved one, you also want to make sure you’ve been given the right types of power of attorney. There also is a healthcare power of attorney that allows you to name someone to make medical decisions for you if you can't. So you have to be careful about which type you choose because you could end up giving your the person you name as your agent too much or too little power. There are four types of financial power of attorney that allow you to name someone to act on your behalf in financial matters. You might also have heard that there are several types of power of attorney. ![]() You might have heard that it’s a good idea to have a power of attorney. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |