Have you thought out the power of attorney situation in your life? A Power of attorney is a document that allows someone else to act as your legal agent. Thus, a power of attorney can be used to allow a friend to sell your car, to let your spouse ship your household goods or to authorize a relative to take your child-to the hospital. It can also be used to sell or buy property. It can create valid and legal debts in your name or it can authorize a person to pay off your debts.
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Are you assigning a power of attorney?
REMEMBER: A power of attorney should never be made indefinite or permanent. The best course is to set a date for the power of attorney to expire, and this can be written into the power of attorney. That way, the power of attorney will not be valid after the expiration date that you set unless, of course, you renew it by preparing a new power of attorney.
While power of attorney will be accepted as valid for most purposes, in many states there are some items that cannot be accomplished by using a power of attorney because these actions are so personal in nature that they cannot be delegated to another. Thus, for example, a marriage ceremony or the execution of a will cannot be done by power of attorney. In addition, there are times when a certain form of power of attorney is required and none other will be accepted - an example is the special form of power of attorney used by the Internal Revenue Service when a person allows a friend or relative to cash an IRS refund check.
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If you need help with estate terminology check out my article "Speaking the Language of Estate Planning". power of attorney: A power of attorney for property empowers someone to
Baby Boomers: Do Your Parents Have an Estate Plan? by Orlowsky and Lansky
A. G. Orlowsky; Ltd.; is a Chicago-area law firm that focuses on estate planning and small business. And David Lansky; PhD. This article was originally published such a plan includes a will; durable power of attorney for property; and power of attorney for health care
Jaburg & Wilk law firm: WILL YOUR POWER OF ATTORNEY EXPIRE BEFORE YOU DO?
Jaburg & Wilk is a Phoenix; Arizona law firm. Our lawyers and attorneys provide legal services to small business; entrepreneurs and corporations. The power of attorney for property is a key element of a solid estate plan
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a will; a trust; a durable power of attorney for property management; and an advance medical transmittal or distribution of this article in any form whatsoever is prohibited
A Guide to Power of Attorney Mandate
Surviving Spouse Tax deduction. New article. Canadians Ill-Prepared for Health Care Costs A General Power of Attorney for Property takes its authority from the Power of
