Point of Attorney
A power attorney is a document that expresses who is named by an individual to act on their best interests in making financial decisions. This power give the third party control over assets, money, and investments for a specific person.
There are two main options in power of attorneys
- A durable power of attorney
- A power of attorney that goes into effect once it is signed.
- A springing power of attorney
- A power of attorney that only takes action at the moment when someone becomes incapacitated.
Alternates or duel Power of Attorneys can be helpful tools in creating a reliable and trustworthy plan for ones financial decisions with a power of attorney.