What is a Power of Attorney (POA)?
A Power of Attorney (POA) is legal document where the grantor (person signing the document) identifies and authorizes (grants permission) for another person to make important legal and financial decisions on their behalf.
If an emergent situation such as an accident or illness occurs and a person become incapable, the POA would represent the incapable person to make decisions on your behalf.
A POA owes a legal duty to act in the best interest (fiduciary duty) of the incapable person (the grantor).
It is important to note that in this context, “attorney” is referring to someone acting as your representative. This individual does not have to be a lawyer.
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