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Do It Yourself Power of Attorney |
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DO IT YOURSELF: POWER OF ATTORNEY (FOR NEW YORK RESIDENTS ONLY)
What is a power of attorney? The power of attorney can deal with any number of issues; however, the issues are primarily legal or financial. The power of attorney can come into being the moment the document is drafted or the power of attorney can “spring” from a certain event, such as an incapacitation of the person who has executed the power of attorney. Some people only want to use these documents when they cannot make their own decisions. Others are willing to immediately relinquish power over some and/or all of their affairs to another person. Seniors might give this power to trusted children.
The power of attorney can be narrow and/or broad. For example, a person might only wish to give a power of attorney with respect to certain bank accounts. Another person might wish to give the power of attorney over virtually everything over which the writer himself has power. The power of attorney document usually has a checklist for which powers are being conferred.
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