3 Types of Powers to Grant with a Durable Power Of Attorney

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A durable power of attorney lets you name one or more individuals who can take decisions on your behalf.

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3 Types of Powers to Grant with a Durable Power Of Attorney:

3 Types of Powers to Grant with a Durable Power Of Attorney

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A durable power of attorney lets you name one or more individuals who can take decisions on your behalf. Know about the 3 types of authorities that you can grant with an official durable power of attorney form. Financial decisions A durable power of attorney can be used to address any personal finance matter. This kind of document helps bestow authority to an agent or a chosen individual to make bill payments, engage in particular transactions that the POA form documents, file tax returns, make deposits into retirement accounts, financial portfolios, bank accounts etc.

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It is recommended for anyone who needs assistance with any personal finance issue. Healthcare decisions A free durable power of attorney form can also allow you to state the types of healthcare services that you might or might not wish to get in case of a life-threatening incident. A few states need you to execute a living will instead of a Medical Power of Attorney. Thus, it is better that you get legal advice for making medical records available to the agent. Medical personnel are prohibited by laws on confidentiality from making details about personal health available to others when there is no written consent from the “principal” or the grantor of the document.

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For more information about getting a financial power of attorney in Virginia , please visit this website. Property decisions With a durable power of attorney, you can speed up the process of probation that is used in the United States for settling decisions about your estates when you are no longer around. This will make sure that the person you choose as the agent will look after your property that needs to be passed over to an offspring, family member, friend etc by way of inheritance. It can also be used for establishing who the guardian of your kids will be. You can appoint someone for the management of your estate matters. Please visit this site to get a sample power of attorney form in Maryland .

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