Does my named attorney-in-fact have to be an individual?

Your named attorney-in-fact (agent) can be either a person you know or a professional fiduciary. Many banks, credit unions, and trust companies offer to serve as agents under durable power of attorney documents in exchange for a fee. You may also find smaller, local companies whose business it is to provide professional fiduciary services.

If you are considering choosing a business that offers professional fiduciary services, do some investigative research first. Interview the company to learn about their policies and procedures, inquire about fees, and ask questions before making a decision to name a business in your durable power of attorney form.

Naming a professional fiduciary can ensure continuity of service and can provide a level of professionalism and legal responsibility that some people find more comfortable than naming a family member or friend as their agent.

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