power of the attorney?

Question

whats the role of power of the attorney and what do they do and whats a truest for?

i forgot to add another question like i am in canada is it diffrent in canada as in united states power of the attorney and truests ?

ingards to the details i added i assume its the same in the united states as in canada in regards to power of the attorney and truests

Answer 1

I will try to help you answer this question as best I can but before I do, I want to assert that I am in no way a legal professional such as a lawyer and that my answer is for general information purposes only.
Now, as far as I understand it, a person who holds power of attorney for another is a person who has been granted the power to make legal decisions on behalf of that person - examples would be where a parent may request another family member to be responsible for making decisions on a legal level should they become unable due to incapacitating illness or in the event of their death. Other more common examples would include businesses where partners in a business would grant certain powers of attorney to other individuals in their absence.
As for a truest, do you mean trust? If so, a trust is like a bank account with restrictions on when the named beneficiary of the trust is excluded from drawing on the funds in that trust until they reach a certain age or they meet some other form of predetermined obligation, for example, the beneficiary may be required to graduate from University with a degree before they can access the funds, etc. I hope this helps.

Answer 2

A person receiving a Power of Attorney is able to act on your behalf. This person can purchase or sell assets, represent you, sign documents and make all decisions on your behalf, based on the particular authority that you specify on the power of attorney. You can limit the power of attorney to only sell your house or you can give a power of attorney which is unlimited or very broad. Unfortunately, I don't understand the second part of the question. Can you be more specific?

Answer 3

Power of attorney is given by one person to another and essentially gives the second party the right to make decisions on your behalf. Typically scenario has adult children acting on behalf of their aging parents.

A trust is a legal instrument that sets aside a sum of money for a certain purpose (beneficiary or non-profit organization for instance). Typical scenario is establishing a trust for a large inheritence, which has tax advantages for the beneficiary of the trust.

Answer 4

a power of attorney is a document that allows one person to act for another in legal matters. it is used in many situations. you do not need to be an "attorney" to have this power given to you.
maybe your wife is traveling to Europe and she wants you to sell the house while she is gone. she cannot be there to sign the deed. so she signs a Power of attorney form to allow you to do this for her. there are many many times this needs to be done ot things like it. maybe you are going to be sick or drugged for a time so you give the pA to a friend or loved one etc.

A trust is a legal entity that holds title to something for the benefit of another.
so maybe there is a trust to hold title to a lot of money for the benefit of kids to go to college. the trust uses the money to pay for tuition. it keeps the money safe while the kids are growing up until they need it. it invests the money in safe investmenst so it can grow. etc. the trust can be a perosn or a bank or a legal firm or whatever you choose.

Answer 5

which ability they have lots of clout, by means of fact while they bypass to court docket they do no longer unfastened no rely who their client is. Johnnie Cochran became one. If OJ had any widely used criminal expert he could have been in the electrical powered chair 3 years in the past.