Basic Questions About Estate Planning: What are Attorneys-in-Fact?

Perhaps one of the most confusing estate planning terms to those who do not have a legal background is attorneys-in-fact. An attorney in fact is a person or organization that plays a key role in almost every estate plan. Understanding what attorneys-in-fact do, how they do it, and how you can use them in your estate plan is essential regardless of what your final estate plan ends up looking like. Today we are going to take a closer look at attorneys-in-fact so we can clear up any potential confusion surrounding that term. What are Attorneys-in-fact? Attorneys-in-fact are people, and occasionally organizations, that have the legal authority to act on, and make decisions for, another person or organization. When someone appoints an attorney in fact, that person, known as a principal, chooses someone to make decisions on his or her behalf. Attorneys-in-fact, also known as agents, have the ability to make legally binding decisions on the principal s behalf as if the principal was making t


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