Not quite! While both let someone act on your behalf, a power of attorney usually covers a broader range of decisions and stays effective even if you can't make decisions anymore, while a proxy is more limited.
While it’s not a must, having an attorney can be a smart move. They can guide you through the nitty-gritty details and help ensure everything's done properly.
Sure, just like lending your favorite book, there are risks involved. You should trust the person you're giving the proxy to, as they will make significant decisions on your behalf.
You bet! Just like flipping a switch, you can revoke a revocable proxy at any time as long as you follow the right steps to let the person know.
You'd choose a revocable proxy if you want to keep your options open, like a safety net. If you're not sure about the future or if you think you might want to switch things up, this is the way to go.
A revocable proxy is like having a backup driver for your car. It lets someone else make decisions for you about your property, but you can change your mind anytime and take back that power.
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