The ABC's Estate Planning
How about some posts just giving the average reader a chance to better understand the terms bandied about by attorneys, accountants and financial planners?
Here is the start of a series of comments on estate planning, A-Z. Perfect for your next BBQ or cocktail party, allowing you to drop a little brilliance on your friends and relatives.
A is for ATTORNEY-IN-FACTA. When someone names you under a Power of Attorney document, you are not considered to be a “power of attorney” or even “to have power of attorney.” You are the attorney-in-fact for the person making the designation and assume fiduciary duties regarding that person or persons. This is opposed to an “attorney-at-law,” who is me.