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What is power of attorney?

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alright well little old Maybelle blue hair just can't think straight anymore

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at least when it comes to managing her considerable volumes of money husband [kitchen oven on fire]

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number four was loaded and had a weak heart and well he ate one too many [tombstone and grave]

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cheeseburgers Maybelle trusts her grand nephew

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Beauregard to make trades on her behalf and has given him trading authorization

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to manage her account that is he can make trades without pre-clearing each [Maybelle carries brownie trays]

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one with her his status is analogous to having power of attorney in doing

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various legal and financial things in life like you might sign over power of

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attorney to your legalese proficient uncle to handle negotiating the terms of

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your juggling contract because well with your busy schedule you need some help [hand signing power of attorney papers]

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keeping all your you know balls in the air and you have the option between

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granting general or limited power of attorney like if you want your uncle to

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handle all of your finances general POA makes sense but if you only want him to

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handle your contracts like in a specific narrow area like at this brokerage

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account only with equities or dead or something like that well then a limited

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POA would be more appropriate so ya trading Authority is the Wall Street

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e-version of power of attorney you might really want to put a few grand into the

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stock market but as far as you know the stock market is just a market where they

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keep produce you know stocked so you turn over authority to make the actual [Maybelle at the food market]

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decisions and perform the actual trades to someone you trust to you know more [Maybelle brings food bag home]

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efficiently handle your money because if everything's left up to little old miss

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blue hair her entire life savings could end up invested in sweaters for cats Inc [Maybelle dresses her cat in a sweater]

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