Much has been written about financial exploitation of individuals, particularly seniors and other vulnerable people, by people who take advantage of them through undue influence, hidden transactions, identity theft, and the like. Even though exploitation risks exist, there are great benefits to one individual (the principal) privately empowering another person (the agent) to act on the principal's behalf to perform certain financial functions or to make health care decisions when they are needed.
1. Without them, you lose control. The best time to plan is “when you can.” Powers of attorney are a...
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