NBSB Celebrates Older Americans Month – Week 1 Power of Attorney

 

Considering a power of attorney is both an important and sensitive step in protecting yourself and your assets. 

 

What is a power of Attorney? 

A power of attorney or letter of attorney is a written authorization to represent or act on another’s behalf in private affairs, business, or some other legal matter. The person authorizing the other to act is the principal, grantor, or donor. 

 

As someone who is selecting someone to represent them and act as a power of attorney, you are considered the Grantor. As the Grantor, you are 100% in charge of laying firm guidelines for what your POA can do or not do on your behalf. 

 

It is crucial that you choose the correct person as Power of Attorney, remember they can act on your behalf once you grant them your POA. 

For the full lesson regarding Power of Attorney click here to download.