Writing Your Financial Power of Attorney? Mistakes to Avoid

Estate experts agree that a financial power of attorney is one of the most important documents to include in your estate planning. It allows you (the “principal”) to name a person you trust (your “agent”) to make decisions about your property and finances if you cannot.

A financial power of attorney can be a powerful tool in your estate planning tool belt. But if you don’t take careful consideration when creating this document, you could face serious consequences. Read on to learn five of the biggest mistakes to avoid when writing your financial power of attorney.

1. Failing to Name an Alternative Agent.

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