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If I Execute a Power of Attorney, Can I Still Maintain My Own Account?

  • July 1st, 2014
Q
If I give my daughter power of attorney over my finances and property, can I maintain a separate account not controlled by my agent to purchase food and clothing items for myself?
A

Absolutely. Granting your daughter a power of attorney does not take away any of your rights or control. It just gives her the ability to step in and help out if you are ever incapacitated. You have the right to revoke the power of attorney at any time.

For more on the durable power of attorney, click here.

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Daniel N. Steven, LLC
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Hale Ball Carlson Baumgartner Murphy PLC
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Last Modified: 07/01/2014

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