What powers does an Attorney-in-Fact or Agent have?
An Attorney-in-Fact or Agent can have broad or limited legal authority to make decisions on the principal's behalf, depending on the type of Power of Attorney. They can manage financial and business transactions, make healthcare decisions, settle claims, and even make gifts of money. However, they must act in the principal's best interest, carry out their duties faithfully, and avoid conflicts of interest. It's important to note that the authority of an Agent ceases if the principal dies.
Do I need a lawyer to create a Power of Attorney in Colorado?
No, it's not necessary to have a lawyer to create a Power of Attorney in Colorado. Snug makes it possible to create a legally valid Power of Attorney without a lawyer. Our platform guides you through the process, ensuring that the document reflects your wishes accurately.