Asked by Briana Robinson on Jun 13, 2024
Verified
A document that gives person A the right to act for person B,in the event that person A becomes incapacitated is known as a:
A) durable power of attorney.
B) living trust.
C) right of succession.
D) codicil.
Durable Power of Attorney
A legal document that grants one person the authority to act on behalf of another person in financial or health matters, remaining effective even if the grantor becomes incapacitated.
Incapacitated
Refers to a state in which an individual or entity is temporarily or permanently unable to perform their duties or activities due to physical or mental limitations.
Living Trust
A legal document that allows an individual, the trustor, to designate another person, the trustee, to manage their assets for the benefit of a third party, the beneficiary, while the trustor is still alive.
- Understand the principles and procedures associated with estate planning, including mechanisms such as living wills and durable powers of attorney.
Verified Answer
TW
Thomas wygalJun 18, 2024
Final Answer :
A
Explanation :
If one is unable to make decisions for oneself,one can execute a document that gives another person the legal authority to act on one's behalf in the case of mental or physical incapacity.This document is called a durable power of attorney.
Learning Objectives
- Understand the principles and procedures associated with estate planning, including mechanisms such as living wills and durable powers of attorney.