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Financial Power of Attorney

A Financial Power of Attorney is a legal document that grants a trusted individual the authority to manage one’s financial affairs.

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Original price was: $210.88.Current price is: $102.74.

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Service Description

A Financial Power of Attorney is a legal document that grants a designated individual or agent the authority to make financial decisions on behalf of another person, known as the principal. The document can be used in various situations, such as when the principal is unable to manage their finances due to illness or disability, or when they are absent for an extended period.

The Financial Power of Attorney allows the agent to handle a wide range of financial matters, such as paying bills, managing bank accounts, making investments, and filing taxes. The document can be customized to limit or expand the agent’s powers based on the principal’s specific needs and preferences.

To create a Financial Power of Attorney, the principal must be of sound mind and must sign the document in the presence of a notary public or witness. It is also important to choose a trustworthy and responsible agent who will act in the principal’s best interests. The agent’s responsibilities may include keeping accurate records of financial transactions and reporting to the principal on a regular basis.

It is important to note that the Financial Power of Attorney becomes invalid upon the death of the principal. Therefore, it is recommended that the principal also create a Last Will and Testament to specify how their assets should be distributed after their passing.

Overall, a Financial Power of Attorney can provide peace of mind for both the principal and their loved ones, ensuring that their finances are properly managed in their absence or incapacity. It is a valuable tool for anyone who wishes to plan for their financial future and protect their assets.

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