Common Mistakes Made with Powers of Attorney

A power of attorney is an important part of many estate plans. A power of attorney allows you to designate a person you trust to manage your healthcare and financial matters if you ever become incapacitated and cannot make decisions for yourself. Unfortunately, there are some common mistakes many people make with powers of attorney and these can leave them unprotected. Below, our Lehighton estate planning lawyer outlines the most common mistakes, and how to avoid them.

Waiting Too Long to Create a Power of Attorney 

If you wait until your physical or cognitive health begins to decline, it makes obtaining a power of attorney more difficult. Waiting too long may mean you no longer have the mental capacity to execute such a document. If it seems as though the document was rushed, it can also raise suspicions of undue influence. No one knows what the future holds and so, it is essential that you create a power of attorney sooner rather than later.

Choosing the Wrong Person 

The person you designate as your power of attorney is known as the agent and they will have significant control over your medical and financial matters. It is critical that you choose someone who you trust implicitly. Additionally, you should also make sure they can handle the great responsibility that comes with acting as power of attorney, their overall trustworthiness, and their willingness to act in your best interests at all times.

Overlooking Witnesses

 All powers of attorney in Pennsylvania must be witnessed by two people, and they cannot be the agents designated in the document or the Notary Public who notarizes the document. If you overlook these requirements, or choose the wrong people to be your witnesses, it can render the power of attorney null and void and leave you without the protection you thought you had. A Lehighton estate planning lawyer will ensure your document is executed properly and will be upheld in the event that you ever need it.

Naming Multiple Agents 

While the law allows you to name multiple agents, this is not typically recommended. A power of attorney is meant to eliminate confusion and disputes while ensuring your wishes are carried out. If you name multiple people as agents, this can lead to the disputes you were trying to avoid. Name just one agent, and a successor agent, who can take over in the event the original agent is unable to carry out your wishes.

Not Updating Your Power of Attorney 

Over time, life circumstances can change and it is important that your power of attorney reflects these changes. Updating your power of attorney will ensure that your agent can still act in their role, and that you can make other changes if the document no longer reflects your wishes.

Our Estate Planning Lawyer in Lehighton Can Draft Your POA 

At The Law Office of Kim M. Gillen, P.C., our Lehighton estate planning lawyer can draft your power of attorney and ensure no mistakes are made so you are fully protected. Call us today at 484-613-0011 to schedule a consultation with our experienced attorney and to learn more about how we can help.

Source:

legis.state.pa.us/WU01/LI/LI/CT/HTM/20/00.056..HTM