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What is a Power of Attorney (POA)?

POA is a legal document that lets you give authority to another person to make financial and legal decisions for you. You are called the donor. The person you authorize to make financial and legal decisions for you is called the attorney. The attorney should be someone you trust and does not need to be a lawyer.


Can You Make a POA?

Yes, if you are 19 or older and mentally capable. You should also understand the importance of having a suitable and trustworthy attorney and what the attorney can do once you appoint him or her.


Why Would You Want a POA?

Some reasons include:

  • You are traveling for an extended period of time and need someone to pay your bills while you are gone.
  • To have someone to make financial or legal decisions for you, if you become mentally “incapable” because of illness, disease or an accident.

Note: You do not lose your right to make your own financial and legal decisions when you give someone else the right to make decisions for you under a POA.

BC - Understanding the Legal Dimensions of Financial Literacy: Power of Attorney


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