Bay Area Estate And Tax Planning Law Firm

What to Look for in an Attorney-in-fact

On Behalf of | Aug 27, 2023 | Estate Planning |

When you search for an attorney-in-fact, you’ll want to be careful. Your attorney-in-fact is responsible for performing financial transactions on your behalf. Because they have such an enormous responsibility, it is critical that you choose a responsible, ethical person for this role. Consider the following when making your decision in California.

Duties that an attorney-in-fact performs

There are several things that an attorney-in-fact will be able to do on your behalf. These include the following:

  • Sign contracts and tax returns in your name
  • Sell and buy property that you own
  • Sue and collect money on your behalf
  • Transfer gifts that are of personal and real property (real estate)
  • Improve, lease/rent, and maintain your property
  • Conduct various types of personal business duties and other acts that you normally would do
  • Create or end financial accounts that are in your name

What to look out for in an attorney-in-fact

Choose an individual who you can trust. It might be beneficial to have a friend or relative be your attorney-in-fact. Otherwise, you can have a banker, accountant, or trust officer serve in this capacity for your estate planning.

This person should live near where you live. They should be skilled in financial management and have good judgment. Make sure that they are willing and able to take on this commitment.

An attorney-in-fact will make crucial decisions on your behalf. If you don’t have someone to help you with these matters, look up reviews for a competent and compassionate professional who can assist you.