Frequently Asked Questions (FAQs)
Powers of Attorney
What is a general power of attorney? What is a limited power of attorney?
A general power of attorney authorizes your attorney-in-fact to handle a broad range of financial matters for you. However, there are certain powers the attorney-in-fact cannot exercise unless the power of attorney explicitly authorizes it, including creating, amending or revoking a trust, making gifts on behalf of the principal, and changing beneficiaries. A power of attorney can never be used to make a will for the principal or to revoke a previously signed will.
A limited power of attorney authorizes your attorney-in-fact to take certain limited actions on your behalf. Such powers are often used for the purchase or sale of a specific property.
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FAQ Categories
- Living Trust
- Living Trusts and Probate
- Funding a Living Trust
- Bank Accounts
- Powers of Attorney
- Conservatorships and Guardianships
- Alternatives to Conservatorships and Guardianships
- Medicare and Medi-Cal (Medicaid)
- Probate
- Taxes
- Disqualified Beneficiaries
- Joint tenancy, Community Property, Domestic Partnerships