Understanding Power of Attorney

Understanding Power of Attorney

Many people have heard of a Power of Attorney, but there is often confusion as to what it means and how it goes into effect. A Power of Attorney appoints an Agent to act on your behalf. You can select what this Agent may or may not do, such as make financial and/or medical decisions for you.

However, a Power of Attorney becomes effective the moment you sign it, and that makes it a very powerful document. That’s right, your Agent will be able to make decisions for you immediately, not just when you are unable to do so yourself. This sets it apart from a Will, which only goes into effect after you pass away, or even a Living Will, which only becomes effective if you are incapacitated and/or cannot make decisions for yourself.

That said, your Agent should always be someone that you trust so that the Power of Attorney is not misused in any way. They should have a copy of the form should they ever need to use it, and you should keep the original in a safe place, such as a fire and waterproof safe.

Wolf & Shore Law Group is very well versed in drafting Power of Attorney forms, as many people want to incorporate it into their estate plans.  There are two types of Power of Attorney forms (short and long).  However, we usually recommend the Long form. This is because the Long form incorporates what your Agent may NOT do on your behalf. The Short form only allots for what duties you would like your Agent to perform, and we believe the more thorough your intentions and desires are outlined, the less room there is for any errors or misuse to occur.

Looking to make drafting your Power of Attorney forms easier, not harder? Choose Wolf & Shore Law Group. Attorneys Kristen Wolf and Shari Shore are both tenacious enough to protect your best interest and compassionate enough to understand the difficulties in drafting your estate documents.

Ever argue with a woman? Let Wolf & Shore Law Group go to work for you. Call us at 203.745.3151 or email us at info@wolfandshorelaw.com.

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