Power of Appointment

A legal authority granted in a trust or will that allows a designated person to decide how certain assets will be distributed, either among beneficiaries or future generations.

Power of Attorney (POA)

A power of attorney is a legal document designating an agent to manage your financial and/or healthcare affairs if you become incapacitated. A durable POA remains valid even if you lose mental capacity.

Power of Attorney for Finance

A specific type of power of attorney that grants an agent authority to handle financial matters such as banking, investments, and property management on behalf of the principal.

Probate

Probate is the formal court process to validate a will, settle debts, and distribute assets. It can be time-consuming and costly unless proper planning is in place. Probate is a public process.