Powers of Attorney Require Caution

A recent Wall Street Journal article highlighted some of the potential dangers involved when people create powers of attorney. These important legal documents are getting attention as baby boomers age and consider the possibility that they might one day need someone else to either manage their financial affairs or make medical decisions on their behalf. Unfortunately, there have also been a number of recent stories about elderly people who have suffered at the hands of agents who have wrongfully used their authorities under powers of attorney. When creating a power of attorney, it’s important to keep in mind that these documents are there to serve your interests. You need to be very clear about your desires and take all steps appropriate to ensuring that your interests are adequately protected. An experienced and qualified estate planning attorney can guide you through the process of drafting the appropriate documents, but here are some issues you will want to think about. Coord


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