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The document is a Special Durable Power of Attorney for bank account matters, which allows an appointed agent to manage the principal's bank accounts, including making deposits, withdrawals, and executing transactions on their behalf. It emphasizes the legal responsibilities of both the principal and the agent, including the agent's fiduciary duties and the conditions under which the power remains effective even if the principal becomes incapacitated. The document must be properly executed with signatures and notarization or witnesses.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What are the disadvantages of a durable 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.

What is a durable power of attorney in California?

THIS DOCUMENT GIVES YOUR AGENT THE POWERS TO MANAGE, DISPOSE OF, SELL, AND CONVEY YOUR REAL AND PERSONAL PROPERTY, AND TO USE YOUR PROPERTY AS SECURITY IF YOUR AGENT BORROWS MONEY ON YOUR BEHALF.

What can a durable power of attorney not do?

A durable power of attorney for finances does not give your attorney-in-fact legal authority to make health care decisions for you. To make sure that your wishes for health care are known and followed, create a health care directive. To authorize decisions about marriage, adoption, voting, or wills.

What is the difference between durable POA and POA?

A general power of attorney gives someone wide legal authority. However, it ends if the person giving it becomes unable to make decisions. In contrast, a durable power of attorney stays in effect even if the person loses mental capacity. Both types are important for different situations.

What is the most recommended type of power of attorney?

More often than not, our clients opt for the General Durable Power of Attorney (a mix of the Durable and General Power of Attorney) for its ease of use by the Agent, and sustainability over the lifetime of the Prinicipal.

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Which is better, a durable power of attorney or a General Power of Attorney?

Choosing between durable and general depends on what you need for the future. We suggest talking to an estate planning lawyer to see which one is right for you. In short, durable powers of attorney give better protection if someone cant make decisions and keep decision-making going.

What are the four types of power of attorney in California?

In California, there are four main types of POAs, each offering a specific scope of decision-making power: general, durable, limited, and medical.

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What are the disadvantages of a durable power of attorney?

What is a durable power of attorney in California?

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What is the difference between durable POA and POA?

What is the most recommended type of power of attorney?

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Which is better, a durable power of attorney or a General Power of Attorney?

What are the four types of power of attorney in California?

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