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Category Archives: Estate Planning

Power of Attorney Part 5: What if I want to change my POA?

Many people are satisfied after establishing their Power of Attorney. However, things can change and you may lose trust in your Agent, or your Agent may move away.  If this is the case, you must:  Cancel the Power of Attorney. Notify your Agent and anybody who has been given a copy of your Power of […]

Power of Attorney Part 4: What if I don’t have a Power of Attorney, and am injured/fall ill?

Having a Power of Attorney (“POA”) is essential for being prepared for possible accidents in the future. As an example, say a person over the age of 18 gets into an accident and is incapacitated as a result, and now needs someone to act on his or her behalf. However, they did not set up […]

Power of Attorney Part 3: Who needs a Power of Attorney?

A Power of Attorney (POA) is vital for any adult. In fact, adult children who are 18 years of age or older should have a POA. Even if the parent of an adult child pays for school and medical bills, personnel from these institutions are not allowed to speak to the parent; only the child. Let’s look […]

Power of Attorney Part 2: A closer look at the Agent’s duties under a Power of Attorney

We discussed the basic definition of a Power of Attorney (POA) in Part 1 of our series on POAs. Now let’s take a closer look at the powers granted to the Agent by a POA, and what responsibilities accompany them. A POA could be “limited” to a few or one authority, i.e. sign papers for you at […]

Power of Attorney Part 1: What is a Power of Attorney?

A Power of Attorney (POA) is a legal document that lets another person (the “Agent”) make financial, health, and living arrangements for you (the “Principal”). This other person should be an individual whom you trust (such as a spouse or adult child), as they will able to act on your behalf. Some of their duties […]

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