Cincinnati Investment Planning and Other Videos

What is a power of attorney?


certified financial planning

What is a power of attorney?

Question: What is a power of attorney?

Answer: A power of attorney is a legal document in which you designate an individual to handle you financial affairs in the event that you become disabled or incompetent. A power of attorney can be used to handle you bank accounts, you investments; the need to sell property, the need to borrow money, so you can see it’s a very broad powers that are identified to handle your financial affairs. The key thing to remember is that the power of attorney needs to specify and be comprehensive because if a power is not specific enough the person holding the power cannot do that.

« Return to Video Lobby