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Make sure your aging parent’s power of attorney is up to date.

If your parents’ POA predates 2010, it is time that they sign a new one!

George H. Gray 0 2446 Article rating: No rating

Power of AttorneyA power of attorney (a “POA”) is widely used for financial and estate planning purposes and for avoiding the expense of guardianship in the event incapacity of the person granting the power (called a “principal”). The POA grants to another person (called an “agent”) broad authority to access the principal’s personal financial information; to sell or dispose of the principal’s property; to change ownership of the principal’s accounts and property; and to change beneficiary designations on life insurance and retirement accounts.

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