Powers of Attorney - Agent Information

There is a good deal of information available for "principle's" on Powers of Attorney. I have decided to create information for Agents. There are two types of Powers that can be created, Property and Health Care. This post will outline some of the powersthat an agent can be granted under property.

An Agent can be authorized to:

1. Buy and Sell Property/Real Estate
2. Manage all Money
• Checking Accounts
• Savings Accounts
• CD's (Certificate of Deposit)
• Money Market Accounts
• Etc.
3. Buy or Sell Personal Property
• Furnitur
• Collections
• Clothes
• etc.
4. Mange/ Access Safe Deposit Boxes
5.  Buy Insurance and Handle Retirement Plans
6. Handle Tax Matters
7. Initiate/ Defend Litigation
8. Aquire Social Security Benefits
9. Deal with Stocks, Bonds, and Options
10. Borrow Money in Principle's Name
11. Make Gifts for Principle
12. Name/ Change Beneficiaries
13. Revoke/ Amend a Trust

An agent should always act consistant with the wishes of the person they are serving.

What the Power of Attorney does not include:

• Actions After Death
• Powers of Attorney are legal documents that are effective during the life of the person who creates them. (Except for Organ Donation under Health Care POA's)

How can I help take care of my loved one's affairs after s/he passes away?

• Ensure that they have a will
• If they have children, ensure that their Will designates who will care for those children
• Encourage them t find an administrator for their Will who has the time and abilities to handle that job
• Things for the administrator to consider;
• Taxes
• Urgen Needs:
• Money for spouse and children to live on before the life insurance check arises