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Power of Attorney The material in this presentation is provided for information purposes only; it is not legal advice and should not be relied upon in such a manner. You should consult a lawyer to address the specific circumstances surrounding

SLIDE 1

Power of Attorney

The material in this presentation is provided for information purposes only; it is not legal advice and should not be relied upon in such a

manner. You should consult a lawyer to

address the specific circumstances surrounding your matters

AAII Retirement and Investing Group Saturday, January 5, 2019 from 9:30 am to Noon Skirball Centre

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What is a Power of Attorney?

Judith M. Sack 2019

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Judith M. Sack 2019

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How are they created?

Judith M. Sack 2019

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The principal directs any actions the agent takes on his or her behalf

Judith M. Sack 2019

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California Practice

Preference for specific documents for different uses, for example: What is not a power of attorney?

Finances Health Care Digital Assets

Judith M. Sack 2019

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Power of Attorney for Financial Matters

Judith M. Sack 2019

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Statutory Form

_________ (A) Real Property Transactions.
_________ (B) Tangible Personal Property Transactions.
_________ (C) Stock and Bond Transactions
_________ (D) Commodity and Option Transactions.
_________ (E) Banking and other Financial Institution Transactions.
_________ (F) Business Operating Transactions.
_________ (G) Insurance and annuity transactions.
_________ (H) Estate, Trust, and other Beneficiary Transactions.
_________ (I) Claims and Litigation.
_________ (J) Personal and Family Maintenance.
_________ (K) Benefits from Social Security, Medicare, Medicaid, or other
governmental programs or civil or military service.
_________ (L) Retirement plan Transactions.
_________ (M) Tax matters.
_________ (N) ALL OF THE POWERS LISTED ABOVE.

Judith M. Sack 2019

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Statutory Form Versus Detailed

Example of detailed provision dealing with Real Property: Statutory form: _________ (A) Real Property Transactions. Detailed power of attorney: (1) Real and Personal Property. To take any actions for the management

r maintenance of any real or personal property in which I own an interest

when this Power is executed, or in which I later acquire an interest, including the power to acquire, sell, and convey ownership of property; control the manner in which property is managed, maintained, and used; change the form of title in which property is held (including creating or severing a “joint tenancy” right of survivorship); satisfy and grant security interests and other encumbrances on property (including a "reverse mortgage"); obtain and make claims on insurance policies covering risks of loss or damage to property; accept or remove tenants; collect proceeds generated by property; ensure that any needed repairs are made to property; exercise rights of participation in real estate syndicates or other real estate ventures; make improvements to property; and, perform any other acts described in California Probate Code §§4451 and 4452.

Judith M. Sack 2019

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Power of Attorney for A Specific Transaction

Judith M. Sack 2019

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Digital Assets

Judith M. Sack 2019

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Power of Attorney for Health Matters

Judith M. Sack 2019

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Trends

Attorney prepared documents versus bank forms. Health care insurer forms versus attorney created documents.

Judith M. Sack 2019

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THIS PRESENTATION IS NOT LEGAL ADVICE

Your presenter: Judith M. Sack Estate Planning Attorney The contents were provided for information purposes only, and should not be relied upon as legal advice. You should consult a lawyer to address the specific circumstances of your situation.

Judith M. Sack 2019