A power of attorney is a useful process for many people. When you give a person a power of attorney you are providing them with the ability to handle distinct financial matters on your behalf. These can be a variety of different things including financial matters, for wills and estates, or for serving as the custodian for financial items.
Power of attorney forms are commonly provided to the IRS and other taxing entities so that certain private information is available and the party can begin to negotiate on behalf of the person. This is useful with tax experts who are familiar with the topics and problems more than a citizen would be.
Another reason to use a power of attorney is if a person is getting older and no longer able to be certain that they can take care of their own financial matters. This often allows a family member or other care taker to handle those matters so that you can take care of your health or are taken care of in some capacity.
While not for everyone, a durable power of attorney can provide a meaningful option for people to handle a specific manner on their behalf. There are many types, including durable and special. Special is limited to certain matters while general relates to all financial or any matter.
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