What is a Power of Attorney?

When you give somebody power of attorney over your affairs, you are allowing them to make decisions regarding your legal and financial dealings. It is valuable to have a power of attorney set in place in case something happens while you are traveling out of the country or if you need somebody to handle banking for you while you are otherwise occupied. It is especially important to have a power of attorney if you own a business or have people who count on you for their income.

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