A proxy is typically only for voting, while a power of attorney can cover a lot more aspects of decision-making, including finances and healthcare.
If you don’t choose a proxy, you might miss out on having someone make important decisions for you, especially if you can't be there yourself.
If you’ve set up a revocable proxy, you can change your mind anytime. For an irrevocable proxy, you've got to follow specific rules to make changes.
While it’s not necessary to have a lawyer, consulting one can provide you peace of mind and ensure everything is buttoned up properly.
Not quite! It can be permanent, but it might have specific terms under which it can be revoked, so always read the fine print.
With a revocable proxy, you can appoint someone to vote on your behalf, but you can take that power back whenever you want by notifying them.
A revocable proxy can be changed or canceled anytime, while an irrevocable proxy is set in stone until it expires or is revoked under certain conditions.
Trusted and secure by over 3 million people of the world’s leading companies