What does a financial attorney-in-fact (agent) do?

Many times, people will give an attorney-in-fact broad power over their finances. But you can give your attorney-in-fact as much or as little power as you wish. You may want to give your attorney-in-fact the authority to do some or all of the following: Use your assets to pay your everyday expenses and those of your family Buy, sell, maintain, pay taxes on, and mortgage real estate and other property Collect benefits from Social Security, Medicare, other government programs or civil or military service Invest your money in stocks, bonds, and mutual funds Handle transactions with banks and other financial institutions Buy and sell insurance policies and annuities for you File and pay your taxes Operate your small business Claim property you inherit or are otherwise entitled to Hire someone to represent you in court, and Manage your retirement accounts. Whatever powers you give the attorney-in-fact, the attorney-in-fact must act in your best interests, keep accurate records, keep your ...  more

Many times, people will give an attorney-in-fact broad power over their finances. But you can give your attorney-in-fact as much or as little power as you wish.  more