Power of Attorney
The purpose of a power of attorney is to give the person you designate (your “agent”) broad powers to handle your property, which may include powers to sell or otherwise dispose of any real or personal property without advance notice to you or approval by you.This power of attorney does not impose a duty on your agent to exercise granted powers, but when powers are exercised, your agent must use due care to act for your benefit in accordance with your power of attorney.
Your agent may exercise the powers given through your lifetime whenever you designate (before or after you become incapacitated), unless you expressly limit the duration of these powers, or you revoke these powers, or a court acting on your behalf terminates your agent’s authority. It can be a useful tool, but in the wrong hands, dangerous.
At Sykes Elder Law, we advise our Pittsburgh clients on what form of power of attorney is best for their needs and the needs of their family. We take care to draft a power of attorney that suits your circumstances and wishes, and work with you to help ensure its proper implementation.
Estate Planning
Related Estate Planning Posts
If you are looking for more information about Estate Planning, here are some of our favorite blog posts. You can also click here for all of our Estate Planning posts.
Why every adult should have a POA
Having a power of attorney (or POA) is at least as important as having a will. As people’s lifespans have increased, many spend more years than ever with a weakened ability to manage their own affairs and increasingly rely on others.
Two must-have estate plan provisions for parents with minor children
Despite our “elder law” moniker, we frequently write estate plans people of all ages. When I see parents whose children are minors, I make sure to address two specific issues that are usually not important with elderly clients. If you parent minor children, make sure...
Estate Planning Examples to Avoid
An often overlooked benefit of professional estate planning: avoiding mistakes that ruin your best intentions. Here are just a few examples: Well, it looked like the right place to sign… In 1962, George Glace signed one of the blank spaces of a pre-printed legal form...