Family finance
Risk & psychologyMoney decisions that involve relatives as well as markets.
In plain terms
Tips, portfolio requests and loan requests are three different problems arriving as one conversation.
1492 terms
Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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Power of attorney
Regulation & taxAlso called: POA, DDPI
A written authority for one person to act on another’s behalf — in broking, the version that lets a broker operate your demat account.
In plain terms
In broking, prefer the narrower DDPI, which permits debits only for settlement, over a broad POA. In family finance, know the limit: Indian agency law treats an agent’s authority as ending if the person who granted it becomes of unsound mind, so an ordinary POA is generally understood not to survive the loss of mental capacity — the very case families buy one for.