For one reason or another, you may be in a position where you cannot take care of your affairs in person. Under these circumstances, you may need someone to act for you in a comprehensive manner. If you are in this situation, you could grant a general power of attorney. The person that you would name to act on your behalf is called the agent or attorney-in-fact. Don’t be fooled by the term attorney-in-fact. Any adult who is mentally competent can act as the attorney-in-fact. You do not have to name a legal professional to act as your agent.
Topics covered in this report include:
- General Power of Attorney
- Limited Power of Attorney
- Incapacity Planning
- Can I Be Held Personally Liable for Mistakes I Make Administering a Trust? - May 17, 2022
- What Is an Irrevocable Life Insurance Trust? - May 12, 2022
- Dying Is Expensive – How Funeral Planning Can Help - May 10, 2022