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For example, you can allow your Agent to handle all your financial affairs, including the power to sell, rent, or mortgage your home, pay your bills, cash or deposit checks, buy and sell your stock, investments, or personal items, or you can allow your Agent to handle only certain or specific financial affairs such as
Power of Attorney (POA) is a Powerful Legal Document Depending on the type of POA, your agent can withdraw money from your bank accounts. First, lets look at a POA with even more power than taking money out of your accounts. The healthcare POA is close to having power over life and death.
A power of attorney allows one person to give legal authority to another person to act on their behalf. A medical power of attorney allows for another person to make medical decisions for you, while a financial power of attorney authorizes another person to make financial decisions for you.
The Key Differences between a POA and a PR: Purpose: A Power of Attorney is often used for incapacity planning or to facilitate decision making during the individuals lifetime, while a PR is appointed to handle the affairs of a deceased individuals estate after their death.
As mentioned above, in Maryland, you should have your POA notarized and witnessed. The notary public can act as one of the two required witnesses.

People also ask

A durable power of attorney (DPOA) form allows an individual (principal) to select someone else (agent) to handle their financial affairs while alive. Durable refers to the form remaining valid even if the principal becomes incapacitated.

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