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Wealth Management Glossary

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Power Of Attorney
A legal document witnessed and acknowledged authorizing one individual to act as the agent or "attorney" for another (the "principal"). If the attorney is authorized to act in behalf of another for all matters, he or she has general power of attorney. Authority to act solely regarding specified situations is special power of attorney. If the authority granted extends beyond the disability of the principal, the attorney has durable power of attorney. The power ceases at the death of the principal.

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