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Can a transfer of a Principals assets to other people be a good thing?

April 26, 2017assets good people Principal thing transfer

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Can a transfer of a Principals assets to other people be a good thing?

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Yes. A Principal may want to authorize transfers or gifts property for estate planning and other valid purposes. Powers of Attorney forms in many states permit Agents to make gifts to members of the Principal’s family, if the Principal so authorizes in the Power of Attorney. The Principal can also customize a Power of Attorney to permit the Agent to make gifts to non-family members.