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How do I choose an attorney-in-fact?

Choosing an Attorney-in-Fact Avoid Family Conflict. Choose Someone Nearby, If Possible. Name a Person, Not a Bank. If Youre Married, Probably Name Your Spouse. If You Have a Living Trust, Name Your Trustee. Talk With Your Attorney-in-Fact.

What does attorney in fact mean legally?

An attorney in fact is an agent authorized to act on behalf of another person, but not necessarily authorized to practice law, e.g. a person authorized to act by a power of attorney.

What is a legal predecessor?

Legal Predecessor means any prior entity whose partners, principals, or assets have been acquired by the Named Insured provided such entity is identified in the Application as.

Why would I need an attorney-in-fact?

An attorney-in-fact is someone who is designated to act on behalf of another person, whether in business, financial, or personal matters. An attorney-in-fact is designated through the granting of power of attorney, usually by the person who will be represented.

What is a successor agent?

A successor agent is the person named to serve as a backup agent if the first person named as agent cannot serve due to death, incapacity, resignation or refusal to act. If a named individual is unable or unwilling to serve as agent, the next person in line under the document becomes the agent.

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