A power of attorney (POA) is a legal document that allows you to name an agent to make financial decisions in the event of an unfortunate event.
This will help you to avoid conservatorship, guardianship and other related court proceedings. Bay Citizen’s recent article, “5 Tips for Creating an Efficient Power of Attorney,” provides some tips to help you through the process.
A suitable agent should also be available, meaning you should choose someone who lives nearby. This will make them efficient when the time to decide on your behalf comes.
This should include the date you created and signed the document, contact information and the effective date. Doing this will help ensure that the agent makes an informed decision when the time comes.
If you don’t have a successor agent, you should specify in the POA how your successor agent will be chosen when you are disabled or incapacitated. Failure to do so can invalidate the POA if your agent is unable or unwilling to serve.
Being disabled or incapacitated can create a challenge when making an important decision. This is worse if you don’t have a POA. Ask an experienced elder law attorney to set this up for you and your loved ones.
Reference: Bay Citizen (July 20, 2023) “5 Tips for Creating an Efficient Power of Attorney”