This type of power of attorney can authorize an agent to perform myriad financial duties for you, including paying your bills, withdrawing and depositing money into your accounts, managing, buying, and selling real estate, and many others. The Tennessee Bar Association also advises appointing only one agent, because appointing two can create conflict and prevent the flow of your financial matters.

In addition, you should include an accounting clause to require the agent to report his or her transactions regularly. It is highly recommended that you specify which powers you want to grant, rather than merely incorporating the entire list by reference to the statute.

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