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Aug 6th, 2022

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How to Protect Unlimited Power Of Attorney

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hello and welcome to another talk to stew with me stuart magoo so uh in this one were going to talk a little bit about lasting power of attorney do you need it yes should you get it yes should you get both parts yes when should you get it now thats all you need to know in terms of whether or not you should have lasting power of attorney uh you may be in a position where you cant afford to get lasting power of attorney but uh generally speaking youll be in a worse position to afford it if you dont and then it turns out that you need it because if you dont have a lasting power of attorney in place and something should occur that deprives you of your mental capacity and people either need to access your bank accounts or make decisions for you regarding your health and well-being then the route they will have to go down is deputy ship which is very costly and very time consuming and yeah we dont want to go down that road any of us so the question is should you get lasting power of

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

Which is a key disadvantage of a power of attorney?

One major downfall of a POA is the agent may act in ways or do things that the principal had not intended. There is no direct oversight of the agents activities by anyone other than you, the principal. This can lend a hand to situations such as elder financial abuse and/or fraud.

Why would the bank deny the power of attorney?

Common Reasons Why Banks Wont Accept a Power of Attorney A financial institution might raise objections such as these: Your POA isnt durable. If the person who made the POA is now incapacitated, the agent cant use the POA unless its durablethat is, made to last even during incapacitation.

What is the best power of attorney to have?

A general power of attorney allows the agent to make a wide range of decisions. This is your best option if you want to maximize the persons freedom to handle your assets and manage your care. A limited power of attorney restricts the agents power to particular assets.

Can a durable power of attorney make medical decisions in Florida?

A durable power of attorney can, in addition to handling all financial decisions, authorize medical care.

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