answersLogoWhite

0

What are some situtations a p-o-a might be needed?

Updated: 8/17/2019
User Avatar

Wiki User

14y ago

Best Answer

If a spouse is on active duty and the couple is buying or selling a home, the spouse on active duty (the principal) can execute a Power of Attorney that names their spouse as their attorney in fact. The AIF could sign any documents related to the sale in the name of the absent spouse.

An elderly person might name someone such as a trusted child, grandchild or friend as their AIF to pay their bills keep track of their investments and do their banking for them. The AIF could sign the principal's name on any legal document (except a will).


A Durable Power of Attorney would remain effective even if the principal was to become ill or incapacitated. Any POA is extinguished upon the death of the principal.

User Avatar

Wiki User

14y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What are some situtations a p-o-a might be needed?
Write your answer...
Submit
Still have questions?
magnify glass
imp