What is a durable financial power of attorney?

A durable financial power of attorney is a legal document that is used for estate planning in Nebraska. It is a document that is used to appoint someone to act on the individual’s behalf in financial matters. It grants the agent authority to make decisions regarding the individual’s financial assets, such as investing, managing investments, accessing accounts, transferring funds, and more. Durable financial powers of attorney can be tailored to suit an individual’s needs. For example, if an individual wishes to have a power of attorney limited to specific transactions or specific assets, they can be included in the document. The individual can also determine the type of activities the agent will be able to perform. It is important to note that the durable financial power of attorney will remain in effect even if the individual becomes incapacitated. This is because an individual may need someone to act on their behalf in the case of an illness, accident, or disability. The durable financial power of attorney can be created with the help of an attorney. The individual and the agent should both sign the document, and have it witnessed and notarized. The durable financial power of attorney document must be registered with the Nebraska Department of Banking and Finance. Once it is registered, it will be active and can be used whenever needed.

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