A power of attorney for financial purposes allows an agent to conduct financial transactions such as transferring assets into a trust, selling assets, making investments, depositing or withdrawing money from a bank account, signing income tax forms, etc. A power of attorney allows the agent to step into the shoes of the person executing the power, the principal, giving the agent the authority to act as the principal would act. A power of attorney is an important part of your comprehensive estate plan even if you have a revocable trust because a trustee has power only over those assets already held in trust, while an agent may assert power over non-trust assets.

If you have questions about a Power of Attorney for Financial Purposes, please submit your confidential question online, or call Walton Law Firm for a free and private consultation. We can be reached toll free at (866) 607-1325 or locally at (760) 607-1325. You may also contact us online.