Which actions can Hiba perform on behalf of her brother with a Power of Attorney?

Which actions can Hiba perform on behalf of her brother with a Power of Attorney?

• A. Sell securities and change will
• B. Purchase property and change beneficiary designations
• C. Sell securities and purchase property
• D. Change will and change beneficiary designations

Answer: (C)

A Power of Attorney (POA) grants one person the ability to act on behalf of another in legal or financial matters. The scope of this authority can vary based on how the POA is drafted. Generally, a POA allows the designated person to manage financial assets, which includes selling securities and purchasing property. Selling securities pertains to managing investments, which is typically covered under a financial POA. Similarly, purchasing property is also a common action that an agent can undertake under such authority, as this involves making financial decisions on behalf of the principal. The other actions involving changing a will or changing beneficiary designations usually require a specific type of authority or may not be allowed under a general POA. A will is an estate planning document that typically cannot be modified by someone else after it's been executed; only the individual who created the will has that authority. Changing beneficiary designations can sometimes require specific instructions that go beyond the general powers granted to a POA. In summary, the correct answer highlights the actions that are generally allowed under a financial Power of Attorney, focusing on financial management rather than estate planning alterations.

A Power of Attorney (POA) grants one person the ability to act on behalf of another in legal or financial matters. The scope of this authority can vary based on how the POA is drafted. Generally, a POA allows the designated person to manage financial assets, which includes selling securities and purchasing property.

Selling securities pertains to managing investments, which is typically covered under a financial POA. Similarly, purchasing property is also a common action that an agent can undertake under such authority, as this involves making financial decisions on behalf of the principal.

The other actions involving changing a will or changing beneficiary designations usually require a specific type of authority or may not be allowed under a general POA. A will is an estate planning document that typically cannot be modified by someone else after it's been executed; only the individual who created the will has that authority. Changing beneficiary designations can sometimes require specific instructions that go beyond the general powers granted to a POA.

In summary, the correct answer highlights the actions that are generally allowed under a financial Power of Attorney, focusing on financial management rather than estate planning alterations.