A financial power of attorney (POA) is a document that allows someone else the power to make money decisions for you as your legal representative or attorney-in-fact, if and when you are unavailable to do so yourself.

The attorney-in-fact you appoint has the authority to do some or all of the following:

  • Collect Retirement benefits
  • Invest
  • Log into financial accounts
  • Manage real estate
  • Operate a business
  • Pay bills
  • Pay medical expenses
  • Pay taxes
  • Purchase insurance
  • Sell assets

A durable power of attorney is created pursuant to Probate Code Section 4000 et seq. and is usually effective immediately upon execution and not affected by your subsequent disability or incapacity.

The durable power of attorney is generally given with the understanding that the attorney-in-fact will use it for the benefit of the principle and executed only in a fiduciary capacity.

Contact Our Claremont Estate Planning Lawyer Today!

Contact attorney Chris Scarcella, Esq., Certified Specialist in Trust, Estate Planning, and Probate by the State Bar of California, Board of Legal Specialization today to schedule an initial consultation.