The Durable Power Of Attorney And What Is It?
The Durable Power Of Attorney And What Is It? Parklin Law Every effective estate plan includes a durable power of attorney. Even though it is a strong document, it can come in handy when you need someone to handle your affairs. A durable power of attorney is what, though? An explanation of the document’s functionality is provided below. What does a durable power of attorney accomplish? An AIF or Agent is designated by the Principal in a durable power of attorney to handle financial matters on their behalf. There is no standardized statutory form for a DPOA in Massachusetts. An attorney should create a DPOA specifically for the Principal. A DPOA often grants the AIF a broad range of authority to make decisions on behalf of the Principal: Ability to do banking and sign checks Ssell property (including the home) Invest resources Run a business. Controlling life insurance Remit taxes Gather the mail Offer gifts Contract signing, etc. Durable Power of Attorney Free Consultation If you...