the difference between a poa and a durable power of attorney on a checking account
Durable Powers of Attorney. The best way to give someone authority over your financial matters is to sign a document called a âdurable power of attorney for finances,â naming someone you trust as your âattorney-in-fact.â This gives the person the right to handle financial or property matters for you.
(2) âPower of attorney accountâ means an account in the name of a natural person as principal and with respect to which one or more other natural persons have been designated as agents with the right to make deposits to and to withdraw funds from or draw checks on such account;