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Can a financial power of attorney authorize a business loan to a family member, if an agreement is drawn up to pay the amount back at a fixed amount per month?
Hello. Its a lasting power of attorney property and financial with full control.
How is it deemed in the best interests of the grantor (i assume this is the person who has asked for a poa) legally? If the business loan was not for a business they had any dealing with, would that be in their best interests? Or would it not matter if the money was being repaid monthly. Sorry to ask so many questions!