Friday, April 3, 2015

7 Decisions to Make for Your Durable Power of Attorney

by Harry S. Margolis
I've always said that the durable power of attorney is your most important estate planning document. It appoints your agent or agents (called your "attorney-in-fact") to step in and act for you on financial and legal matters in the event you ever become incapacitated. It can permit them to pay your bills, make investment decisions, take planning steps, and take care of your family when you can't do so yourself.

In theory, the durable power of attorney is a relatively simple document. All it should need to say is the following:
I, Joe Blow, hereby appoint Janet Planet to step in for me in the event of my incapacity to handle my financial and legal matters.

But in fact most durable powers of attorney run to several pages and involve a number of important decisions. Now, two nationally-known estate planners, Jonathan Blattmachr and Martin Shenkman, have written a whole ebook just on powers of attorney: Powers of Attorney: The Essential Guide to Protecting Your Family's Wealth.
Here are some of the decisions you will need to make on your durable power of attorney:...

Full Article and Source:
7 Decisions to Make for Your Durable Power of Attorney

See Also:
NASGA:  Durable Power of Attorney


Anonymous said...

The power of attorney,wills,trusts are thrown away by the courts .

Betty said...

Good info!

Gina said...

Thanks NASGA. I know making a POA isn't as simple as it should be because of all the loopholes and I appreciate this information.

Anonymous said...

Of course, all your wills, pos, trust documents. Rubbish. They mean nothing when the court legal predators want your loved one and their ssets. *a,judge can do anything they want, no matter how bad "and they do knowing they are totally immune. This should never be. Prison should be for everyone. Even judges.