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Irrevocable Power of Attorney

A legal document that grants someone else the authority to act on your behalf even if you become incapacitated or pass away.

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Original price was: $212.60.Current price is: $103.58.

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Service Description

An Irrevocable Power of Attorney is a legal document that grants authority to an appointed agent to act on behalf of the principal in certain financial or legal matters. It is called “irrevocable” because once it is executed, the principal cannot revoke the powers given to the agent.

An Irrevocable Power of Attorney can be used in various situations, such as managing assets, real estate, or making investment decisions. It can also be used to make medical decisions on behalf of the principal, such as in cases of incapacitation.

The agent appointed in the Irrevocable Power of Attorney is responsible for making decisions in the best interest of the principal. This means that the agent should act with prudence and avoid any conflicts of interest. If the agent breaches their fiduciary duty, they can be held liable for any damages caused to the principal.

It is important to note that an Irrevocable Power of Attorney should only be granted to someone who is trustworthy and competent. The principal should also carefully consider the scope of the powers given to the agent, as they cannot be revoked once the document is executed.

In summary, an Irrevocable Power of Attorney is a legal document that grants authority to an appointed agent to act on behalf of the principal in certain financial or legal matters. It is an important tool in estate planning and should be executed with careful consideration of the scope of the powers given to the agent.

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