Law 2101 Final: Law 2101 - POA & Wills Law Exam Review Package
20 Apr 2018
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Document Summary
A legal document that allows you to appoint someone to act on your behalf. Two types: continuing (cpoa, personal care. If there are multiple attorneys, they act jointly unless otherwise stated. Allows financial matters to be completed: banking, pay bills, buy and sell assets. Grantor is the one appointing: can put restrictions on the powers of that poa, ex: act only for a limited amount of time, power to sell my house only. Cannot make a will for the grantor! Must have some concept of what he or she has. Must be aware of the obligations owed to the dependents. Must know that the attorney will be able to do anything with respect to property. Must know the attorney is responsible for showing the accounting behind what they have done. Must know that unless the attorney manages the property adequately, the value could go down. Must know the possible of misuse of their ability.
