Power of Attorney: The Basics

Power of Attorney: The Basics | Tom Sciacca

{Read in 6 minutes} A Power of Attorney is an important legal document that a person (called the Principal) can sign to appoint an Agent to manage the Principal’s financial affairs during the lifetime of the Principal. This is a simple but powerful legal document that can be used to greatly enhance the life of the Principal and ensure management of assets into old age and potential loss of capacity — but it can also be abused if the Principal chooses an Agent who doesn’t do their job faithfully and honestly.

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