Which Legal and Medical Documents Should You Have in Place If You Are Single?
What is the difference between a contact and an agent?
Communication role
Authority boundary
Decision role
Trusted
contact
The firm may call in limited circumstances, such as when it cannot reach you or suspects financial exploitation.[3]
No trading, withdrawals, or account decisions
Legal
authority
A financial power of attorney and applicable law define the authority.
Financial
agent
The agent may handle only the financial matters granted in the document.[4]
Successor agent
Serves when the first agent cannot.
The same person may hold either role. The authority comes from the role and its governing document.
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