Which of the following individuals is considered an attorney-in-fact?
Asked by: Dr. Hilario Abernathy PhD | Last update: September 14, 2025Score: 4.5/5 (62 votes)
An attorney-in-fact is someone who is designated to act on behalf of another person, whether in business, financial, or personal matters. An attorney-in-fact is designated through the power of attorney, usually by the person who will be represented.
Which of the following is an attorney-in-fact?
An attorney in fact can be a beneficiary's acquaintance, in which case it is usually a friend or family member. For example, Person A might give a power of attorney to Person B that allows Person B to manage Person A's bank accounts. In this example, Person A is the principal , and Person B is the attorney-in-fact.
Who is considered an attorney-in-fact?
An attorney in fact is a person appointed through a power of attorney to act on behalf of another person in specific matters like financial transactions or healthcare decisions. This role does not require a law degree or bar admission.
Is an attorney-in-fact a trustee?
Unlike an Attorney-in-Fact, whose powers are limited to the period of time you are alive, or an Executor, whose powers are limited to a period of time after you die, your Trustee can serve both during your lifetime and after your death. A Trustee's powers, however, are limited to those assets held in the trust.
Which individual is exempt from licensure under Florida statute 475?
Under Florida Statute 475, these are several individuals who are exempt from licensure in certain circumstances-. Attorneys, Individuals in specific professional roles, Government employees, Property owners.
What does an Attorney-in-Fact do?
Which individual is exempt from real estate license Florida?
475.011(2) – “Any individual, corporation, partnership, trust, joint venture, or other entity which sells, exchanges, or leases its own real property.” A simple example of this exemption is if John Smith owns his own property, he can sell it or rent it on his own without needing a real estate license.
Which of the following statements best describes an attorney in fact?
Explanation: The best statement that describes an attorney-in-fact is option (c) an attorney-in-fact is authorized by a power of attorney to act for another.
Is an executor an attorney-in-fact?
Attorney-in-Fact power ends and the executor's power begins whenever you pass. The executor then has power over everything in your probate estate and will then lead the probate process to see your wishes in your will completed.
Who is the grantor and attorney-in-fact?
The person authorizing the other to act is the principal, grantor, or donor (of the power). The one authorized to act is the agent, attorney, or in some common law jurisdictions, the attorney-in-fact.
What is an attorney in trust?
A trust attorney is a legal professional specialized in managing, protecting, and distributing a client's assets. Their responsibilities include creating bespoke trust documents, navigating intricate trust laws, and providing guidance on tax implications and estate administration tasks.
What is the difference between attorney-in-fact and personal representative?
The primary difference between the Personal Representative (“PR”) and the person appointed under a power of attorney the attorney in fact (the “POA”) is that the PR is administering the estate after the person has passed away and the POA is caring for the person while they are incapacitated, but still living.
Can a financial advisor have power of attorney?
To your greater detriment, your adviser could also transfer your money into their personal accounts, and although this act is illegal, it is costly and timely for you to pursue after the fact. To avoid this happening, never grant power of attorney to your adviser.
Is attorney-in-fact a title?
There are many titles for the person who exercises this authority on your behalf. One such title is “attorney-in-fact.” Here's what you need to know about this aspect of estate planning.
What does "in fact" mean in law?
Definition and Citations:
Actual, real; as distinguished from implied or inferred. Resulting from theacts of parties, instead of from the act or intendment of law.
What are the four types of power of attorney?
A power of attorney (POA) is an estate planning document that grants another person, called the agent or attorney-in-fact, the authority to act on your behalf. In California, there are four main types of POAs, each offering a specific scope of decision-making power: general, durable, limited, and medical.
Can a power of attorney sell property and keep money?
Someone who is designated as your agent in a power of attorney has a fiduciary duty to you. That means they cannot make financial decisions or take actions with your money or accounts that aren't in your best interest.
Is the grantor the owner?
The Grantor is the seller (on deeds), or borrower (on mortgages). The Grantor is usually the one who signed the document.
Is a trustee an attorney-in-fact?
The power of the Trustee is valid during the life of the principal, the incapacity of the principal[1], and even after the death of the principal. Attorney-in-Fact: An “Attorney-in-Fact” or “Agent” is the person authorized to act under a Durable Power of Attorney.
Who is the grantor and grantee on a POA?
In legal terms, the person who gives the power is called “the grantor”. The person given the power to act on the grantor's behalf is referred to as an “attorney-in-fact” or an “agent”. The special power of attorney authorizes the attorney-in-fact or agent to do only those acts specifically mentioned in the instrument.
Who has more power power of attorney or executor?
The agent serving under your power of attorney only has power and authority to act during your lifetime. Conversely, the executor is a person who is appointed by the probate court to close out your estate when you pass away. The executor only has power to act after your death.
What is the attorney-in-fact for the beneficiary?
An attorney-in-fact is someone who is designated to act on behalf of another person, whether in business, financial, or personal matters. An attorney-in-fact is designated through the power of attorney, usually by the person who will be represented.
Can power of attorney override a will?
So long as a will is valid, a power of attorney cannot change it or rewrite it. This is not within their scope of authority even if the grantee specifically says otherwise in their power of attorney assignment. Any will written by a power of attorney is invalid on its face.
Can a lawyer refuse to represent someone?
DO LAWYERS HAVE TO ACCEPT EVERY CASE? No. In fact, in some situations, lawyers cannot accept a case or agree to represent a certain client. Various laws and ethics rules govern the cases (and clients) a lawyer can–and cannot–accept.
Which individual is not exempt from licensure under FS 475?
The individual who is NOT exempt from real estate licensure under the provisions of F.S. 475 is a property manager collecting rent. Such a professional service requires a valid real estate license.
What is the fiduciary duty of an attorney-in-fact?
What does it mean to be a “fiduciary?” This means that you will be held to the highest standards of good faith, fair dealing and undivided loyalty with respect to the principal. You must always act in his or her best interest and keep his or her goals and wishes in mind in making any discretionary decision.