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Difference between revisions of "Glossary for Managing Someone Else's Money"
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Glossary for Managing Someone Else's Money (view source)
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;Representation agreement: A legal document that enables an adult to authorize someone to make decisions for them when they can no longer manage on their own. The “representative” can make decisions relating to health care and personal care matters. With a “section 7 representation agreement”, the representative can also be authorized to handle “routine management” of financial affairs and most legal matters. | ;Representation agreement: A legal document that enables an adult to authorize someone to make decisions for them when they can no longer manage on their own. The “representative” can make decisions relating to health care and personal care matters. With a “section 7 representation agreement”, the representative can also be authorized to handle “routine management” of financial affairs and most legal matters. | ||
;Springing power of attorney: A power of attorney that only becomes effective when | ;Springing power of attorney: A power of attorney that only becomes effective when a triggering event happens, such as a finding that the adult making the power of attorney is mentally incapable. | ||
{{Managing Someone Else's Money Navbox}} | {{Managing Someone Else's Money Navbox}} | ||
