WebNov 18, 2024 · An agent with a valid power of attorney for finances may be able to: Access the principal’s financial accounts to pay for health care, housing needs, and other bills. File taxes on behalf of the principal. Make investment decisions on behalf of the principal. Collect the principal’s debts. WebWhen someone makes a power of attorney, they appoint someone else to act on their behalf. The person making the power of attorney is called a donor and the person appointed to act on their behalf is called an attorney. A power of attorney gives the attorney the legal authority to deal with third parties such as banks or the local council.

Virginia Durable (Financial) Power of Attorney Form

WebJan 13, 2024 · A statutory or durable power of attorney gives an agent permission to access bank accounts, sell property and make other important decisions when the principal becomes incapacitated or unable to make decisions. It stays in effect until revoked or until the principal dies. A general power of attorney does the same thing as a statutory … WebJan 8, 2024 · Updated January 08, 2024. A Virginia durable power of attorney form provides a method by which a person (“principal”) can designate an individual of their choice (“agent”) to act on their behalf for … northgate hills apartments

Reston Lawyers Serving Clients Nationwide

WebWe will help you create an estate and elder plan that can handle whatever lies ahead. Personalized consulting with our estate planning specialists and attorney to determine … WebWhen you need someone to handle your finances on your behalf. A power of attorney is a legal document giving a person (known as the agent) broad powers to manage matters on behalf of another person (known as the principal). Under certain circumstances, Bank of America allows agents to be added to the principal's accounts (depending on the ... northgate hixson tn