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Home > Services > Domestic Wealth Planning > Facing Retirement with Financial Strength > Durable Power of Attorney
Power of attorney, also known as POA is a mandate in civil law to act on someone else’s behalf in a legal business matter.
The person authorizing the POA is the grantor or donor of the power and the one who is authorized to act is the agent or the attorney-in-fact.
The agent must act according to the law and according to the agreement and the power to act can be special or limited to one specific act or it may be general defining a scope of acts or act.
Durable Power of Attorney is a type of POA that ends when the grantor dies. In some states, countries or jurisdictions the durable power of attorney is also called Health Care Power of Attorney. A proxy is an advance directive that specifically empowers the agent to make health care decisions for the grantor in all situations including ending the life of the grantor. A person of sound mind can change their advance directives and durable powers of attorney.
A living will is a written legal document without a durable power of attorney, but states the person’s desires and medical conditions. There are states that require a Health Care Proxy in a separate document to coincide with a living will.
Powers are outline in the Uniform Power of Attorney Act.
A Limited Nondurable Power of Attorney is a document that authorizes the agent or attorney-in-fact to perform a particular transaction. The Limited Nondurable Power of Attorney restricts the authority of the agent to a specific situation, limited time period or type of legal action.
Nondurable Limited POA may be used in the following ways.
♦to buy or sell real estate;
♦to make business transactions and decisions
♦to sign checks
♦to deposit and transfer money or make bank transactions
♦to borrow money
♦to make any legal claims
♦to perform custodial duties for dependants, including over medical care
One attitude that cannot be tolerated in medicine is a lack of care or apathy. We feel physicians should exercise the same standard of care toward their accumulation of assets, property and wealth.
Written by the foremost expert in the country!
Physicians and their Advisors Will Gain a Practical Guide in the Following Subject Areas
►Asset Protection
►Estate Planning
►Income Tax Reduction
►Financial Planning
►Office Management
►Corporate Structure and Protection Structures
Learn how to protect your personal and business assets from disgruntled patients, creditors and divorce through the use of domestic and offshore planning tools.
Estate Planning - Learn how to avoid the most common estate planning mistakes that could cost your heirs $500,000 - $3,000,000 or more and learn how to avoid the 70-83% tax trap.
Income Tax Reduction - Learn how to reduce your income taxes by $25,000 - $200,000 annually while avoiding the tax avoidance shams in the marketplace.
Financial Planning - Learn how to protect the principal of your investments while still giving yourself the opportunity for upside growth if the stock market performs well.
Office Management - Learn several practical and easy to implement solutions that will help you run a more efficient and financially sound medical practice.
Asset Protection Planning Part 3 concentrates on the protection of personal residence, business acco ...
Trustmakers Estate Tax planning provides advisor direction and guide information on protecting your estate.