You may authorize an agent under a Durable Power of Attorney to:
- buy or sell property (real and/or personal) for you;
- apply for public benefits/government assistance on your behalf;
- manage your business;
- collect your debts;
- invest your money;
- cash your checks;
- manage your day-to-day financial matters; or
- take legal action on your behalf.
Some powers are given only if they are specifically mentioned. Those requiring specific mention include:
- the power to make gifts of your money or other property;
- the power to change your community property agreement; and
- the power to designate beneficiaries of your insurance policies.
Some powers cannot be given to an agent. Those include:
- the power to vote in public elections; and
- the power to make or alter a Will.
For more information on Estate Planning tools such as a Durable Power of Attorney, please contact Stouffer Legal at 443-470-3599 in the Greater Baltimore area.