The Power of a Power of Attorney
A Power of Attorney is an integral part of estate planning; it is a legal document which allows someone else the ability to act on your behalf to control your finances and assets. If you ever become incapacitated or unable to look after your finances, a Power of Attorney ensures that you won’t have to worry.
So, what would happen if you were suddenly given control over say, your elderly parents’ finances? What would you do? Would you know what your roles and duties as your parents’ Attorney would be?
Check out this informative article form MONEYSENSE for answers on overseeing your parents’ finances: Looking after Mom and Dad.