Financial Power of Attorney
A financial power of attorney (POA) or durable power of attorney (DPOA) is a legal document that grants a trusted representative (agent) the authority to act on behalf of the principal agent in financial matters. In simple terms, the POA is a legal document giving a specific person or persons the authority to act on the behalf of someone else. The parameters can be broad or, in some cases, very restrictive, limiting the agent/s to specific duties. The agent/s named are able to legally make decisions involving things such as finances, property and so forth. The POA can legally sign these documents as well. Representation by the POA must be consistent with the wishes of the principal, but has the full authority to make autonomous decisions until challenged or revoked in a court of law. A POA can be effective immediately upon signing or not become effective until incapacity. This distinction can be extremely important in planning your future.
With years of experience, Steven Patterson, Attorney at Law understands every aspect of Financial Power of Attorney, and can guide you to make the best and most beneficial choices for you and your estate.