Power Of Attorney Hide Amount Field For Free

Unless your power of attorney form specifically prohibits compensation, agents under a power of attorney are generally entitled to "reasonable" compensation. What is considered reasonable is going to depend on your duties and the area you live in.

Gift giving powers are include in the list under personal and family maintenance; however, an Agent may only make gifts totaling (cumulatively) up to $500 per year. The power to gift assets does include gifting to the Agent himself if that power is included by the Principal.

A general power of attorney allows the agent to act on behalf of the principal in any matters, as allowed by state laws. The agent under such an agreement may be authorized to handle bank accounts, sign checks, sell property, manage assets, and file taxes for the principal.

A power of attorney (POA) is a legal document that allows a person the authority to act on behalf of someone else.The agent can legally manage the principal's finances and property, make all financial decisions, and conduct all financial transactions that are within the scope of the agreement.

Unless the LPA states otherwise, you can spend money on:gifts to a donor's friend, family member or acquaintance on occasions when you would normally give gifts (such as birthdays or anniversaries)donations to a charity that the donor wouldn't object to, for example a charity they've donated to before.

You may either by yourself or through an attorney. Demand that the agent you suspect of absconding with your funds file a detailed account showing how your money was spent.Ultimately, if the court finds the agent took your money without your authorization, you can sue the agent and/or possibly press criminal charges.

I most commonly see hourly rates for family members acting as Agent in the $20.00 to $40.00 range. Typically, a son or daughter will be the person acting as Agent under a power of attorney document on behalf of their parents.