What right does a selected attorney-in-fact possess?

The selected attorney-in-fact possesses the right to make financial decisions on behalf of the principal, which is a fundamental aspect of the role designated in a power of attorney. This authority is granted by the principal, who designates the attorney-in-fact to handle specific financial matters, such as managing bank accounts, paying bills, and making investments.

This arrangement empowers the attorney-in-fact to act in the best interest of the principal, ensuring that their financial affairs are managed appropriately, especially in situations where the principal may be unable to do so themselves due to incapacity or other circumstances. It's essential that the attorney-in-fact acts in accordance with the wishes of the principal and adheres to any stipulations outlined in the power of attorney document.

The other options relate to different aspects of the attorney-in-fact's authority; for instance, the ability to appoint another attorney-in-fact is often not included unless expressly stated in the power of attorney. While the attorney-in-fact should consider the principal’s desires, they do not have the authority to override the principal’s decisions if the principal is capable of making their own choices. Additionally, the ability of the attorney-in-fact to act is not strictly limited to times of incapacity unless the