Making someone your proxy is as simple as having a chat and putting it in writing. It’s all about trust, so pick someone you believe has your best interests at heart.
Yes, there are some rules to follow. It's like following the recipe while baking; you have to ensure everything’s done properly to make it valid.
Absolutely! Just like canceling a subscription, you can revoke a revocable proxy whenever you're feeling the need for a change.
An irrevocable proxy is useful when you need to ensure that someone has authority over certain decisions for a longer term, like in a trust situation or when handling important affairs.
You might want a revocable proxy if you want to keep your options open. It’s handy when you want someone to help you with decisions, but you might want to switch things up in the future.
Think of an irrevocable proxy as a locked door. Once you give that authority to someone, you can't easily change it or take it back unless certain conditions are met.
A revocable proxy is like a safety net. It allows you to give someone the power to make decisions on your behalf, but you can change your mind and take that power back whenever you want.
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