Powers of Attorney
Ask yourself - do you completely trust the person you have just given an unlimited power of attorney? This person now has the key, your complete authority, to operate on your bank accounts, sell shares, sell the house. Basically do anything.I dont know the statistics, but the documented abuse of the ubiquitous power of attorney would be far exceeded by the undocumented abuse.
Of course we trust our partner, our children, our trusted friends and advisors. The EPOA is often drawn up and put into the bottom draw because one day we will all probably end up where we can no longer manage our affairs. However caution always needs to be exercised and a couple of things worth considering.
One. Make use of the limited or specific POA - for example, limit it to selling my house as I am overseas.
Two. Appoint not one attorney but two attorneys as joint attorneys where both attorneys must sign. for example, a son and a daughter.
posted by brett hayton @ 7:28 AM
1 Comments:
Thanks for sharing information on the power of Attorney. Its really valuable information given by you.
Disputing A Will.
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