What Kinds of Responsibilities Can I Give My California Financial Power of Attorney Agent?

Do you have someone else appointed to manage things for you if you became unable to manage it on your own? If not, this can create frustration, confusion, or delays when you need someone to manage a financial issue in your place. To protect yourself in this potential situation, you should draft a durable power of attorney. 

Creating a durable power of attorney in California allows you the opportunity to give specific responsibilities or general authority to a power of attorney agent. You may give all or some of the powers that have been listed below. Since this is a position of trust and power, you need to spend time choosing this person carefully. 

You’ll want to have a conversation with your Pasadena estate planning lawyer to determine the most appropriate strategy for your plans. It can involve a great deal of trust to give someone a general durable power of attorney that enables them with a great deal of authority over your financial actions and tasks. Consider the following tasks a financial power of attorney agent can do: 

  • Make payments for everyday expenses
  • Can pay or file taxes for you
  • Pay taxes on your mortgage real estate or other property
  • Sell or buy real estate 
  • Handle your business dealings 
  • Manage any retirement accounts 
  • Invest in bonds, stocks, or mutual funds 
  • Collect government benefits such as Social Security 

If you’re not sure where to start with a Pasadena estate plan, schedule a consultation to discuss your unique situation. Our lawyers have years of experience working with individuals, families, and business owners who need to craft clear estate plans.

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