Attorney-in-Fact

Terms

An individual authorized to act on another’s behalf in financial or legal matters.

Description

An attorney-in-fact is appointed via a power of attorney to manage financial, legal, or estate matters, often used in family offices for elderly clients or complex trusts. They handle tasks like asset transfers or bill payments, ensuring continuity in wealth management. The role demands trust and fiduciary responsibility. Clear legal documentation prevents misuse.

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