There are many considerations that people have when it comes to setting up a power of attorney, from finding the most suitable candidate to revoking a power of attorney (both of these topics have been addressed in previous posts on this blog). However, some people may need to help a loved one set up a power of attorney, whether they need support from someone they trust or you want to make sure that their interests are protected. Regardless of the reasons why a power of attorney is necessary, it is critical to approach the process correctly.
Your parent has taken steps to create an estate plan. However, he or she has recently discussed these documents with you, and you now have concerns that they are not really legal in New Jersey, particularly when it comes to the durable power of attorney.
In a recent post, we looked into considerations related to revoking a power of attorney. By making sure that you have identified the right person from the start, you may be able to avoid this situation. In this blog, we will go over a number of issues related to finding the right person to take on the responsibilities of serving as power of attorney and some of the characteristics you may want to look for.
In a recent blog post that we published, we discussed some of the different ways in which a power of attorney can be beneficial. There are many different reasons why people move forward with a power of attorney and it is important for you to do what is best from a financial standpoint. From providing peace of mind to support when it is desperately needed, this is an excellent option for many people. With that said, there are also times when someone may decide to revoke a power of attorney, in which case it is crucial to carefully go over the ins and outs of the process.
When planning for your later years of life, it’s important to designate a power of attorney (POA). A POA is a person who acts on your behalf and makes decisions according to your wishes, in the event that illness or tragedy prevents you from being able to make those decisions on your own.