![]() Sometimes people appoint two or more people who make decisions for you together. That person may be able to access your bank accounts, sell your house, buy and sell stock in your name, cancel your insurance, or perform other important and sensitive transactions. Be careful to appoint someone you trust completely. It is safe if the person you appoint is trustworthy and competent. This is because, if you are incompetent, it would be the agent who is deciding to make the gift of your property to him or herself. one that remains in effect even if you become incompetent, a gift to your agent after you become incompetent may be restricted by law. However, if your Power of Attorney is a “Durable Power of Attorney,” i.e. WHAT IF I WANT TO MAKE A GIFT TO MY AGENT? If you are 65 or older, and your agent takes your property without authorization, s/he can be charged with elder abuse. Unless you specifically make a gift to him or her, it is against the law for your agent to make gifts to him or herself. Your agent can establish a trust, but cannot make or change your Will (Probate Code Section 4264 ). You can also limit the kinds of financial decisions you want your agent to be able to make. Your agent can do almost anything the Power of Attorney permits. apply for benefits like SSI or Medi-Cal.arrange the distribution of retirement benefits.make bank deposits, withdrawals or other transactions.Here are examples of tasks you can have your agent do: Or, your Power of Attorney can authorize your agent to handle on-going tasks. For example, your agent can sign sale documents or contracts for the purchase of a house, or to sell your car. The person you appoint to represent you is called the agent or attorney-in-fact.Ī Power of Attorney lets you authorize someone to handle a specific task, like signing documents for you while you are away. If you sign a Power of Attorney, you are the principal. ![]() A Power of Attorney is a document that lets you appoint someone to represent you.
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