Which of the following statements about the use of a regular (nonspringing) durable power of attorney are correct?The authority of the attorney-in-fact (agent) continues to be legally exercisable even if the principal becomes disabled or incapacitated at a later date.It is less expensive than a conservatorship for management of an incompetent person's property.Like other techniques used to manage an incompetent person's property, the title to assets is transferred away from the incompetent person.This document is irrevocable.

Power of Attorney : It is the right to make decisions related to money by a person. And, it can…

Answered: Which of the following statements about…

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Which of the following statements about the use of a regular (nonspringing) durable power of attorney are correct?

The authority of the attorney-in-fact (agent) continues to be legally exercisable even if the principal becomes disabled or incapacitated at a later date.
It is less expensive than a conservatorship for management of an incompetent person's property.
Like other techniques used to manage an incompetent person's property, the title to assets is transferred away from the incompetent person.
This document is irrevocable.

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