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The POA cannot transfer the responsibility to another Agent at any time. The POA cannot make any legal or financial decisions after the death of the Principal, at which point the Executor of the Estate would take over. The POA cannot distribute inheritances or transfer assets after the death of the Principal.

Prepare the POA Document: Draft the POA document, clearly outlining the powers given to the agent, when these powers begin, and any limitations on those powers. Legal Formalities: In Oregon, your parent must sign the POA document in the presence of a notary public.

A ?durable financial power of attorney? means that you can use this legal document to authorize someone to handle your finances and operate your business for you. However, others cannot use it to make health-related decisions on your behalf.

A Power of Attorney Could Leave You Vulnerable to Abuse Often, this does not happen ? at least not unless or until abuse of power becomes egregious. Because of the potential that an agent could take advantage of you or steal from you, it is very important that you select the right person to act as your agent.

The Oregon Limited (Special) Power of Attorney is an express contract configured to bestow a fixed allotment of allowed actions to be performed by a designated agent. The document serves to deliver a finite amount of privileges to an attorney-in-fact to take care of financial matters for a declaring owner.

File a Copy With the Recorder's Office If you gave your agent the power to conduct transactions with real estate, you should also file a copy of your POA in the land records office (called the recorder's office in Oregon) in the county or counties where you own real estate.