What Are The Powers Of An Attorney-In-Fact?
A power of attorney can be used to appoint someone to act on your behalf in a wide variety of matters. The standard power of attorney form permits your appointed attorney-in-fact to act on financial and business matters, such as banking transactions, investments and sales of property. This form can be purchased in office supply stores, and is used by many attorneys. You may, however, want to consider a power of attorney that personalizes the standard form. For example, if you want to enable your attorney-in-fact to file claims for your Social Security, Medicaid, Medicare, or VA benefits, or to sign your tax returns on your behalf, you can so specify on the power of attorney form. Or you may enable him or her to make gifts to family members, or fund living trusts (see Section IV below). This can be very useful for estate and tax planning or financial planning for long term health care. You may also want your attorney-in-fact to be able to arrange for personal care services in your home
