Account Authorizations and Legal Documents

What this video covers

• The difference between limited and full power of attorney (POA): trade-only authority versus complete control including withdrawals
• Why non-durable POA is the default, and what explicit language is required for durability to survive incapacity
• Why all POAs terminate at death, with no exceptions, including durable POAs
• What documentation a trust account requires, and how trustees are bound by the trust agreement's investment restrictions
• The duty of loyalty: why self-dealing is prohibited even at fair market price, and when co-trustees must act jointly
• What a corporate resolution must specify, and why articles of incorporation are required alongside it
• The three-part discretion test: how choosing security, action, or quantity makes an account discretionary, and why time-and-price authority expires in one business day