It is crucial to name a person who is both trustworthy and succesful to serve as your agent. This person will act with the identical legal authority you would have, so any errors made by your agent could also be very difficult to appropriate. Even worse, relying on the extent of the powers you grant, there could additionally be a hazard for self-dealing. An agent may have entry to your financial institution accounts, the facility to make gifts and transfer your funds, and the flexibility to sell your property. Like the property deed for your home or automotive, a POA grants immense ownership authority and responsibility. It is actually a matter of life and demise in the case of a medical POA.
To decrease the danger of such wrongdoing, in addition to the steps talked about above, have your POA require your agent to report all actions periodically to an out of doors party, such because the family’s accountant or attorney. In other phrases, “trust however verify.” A capable attorney can draft your POA to incorporate these safeguards under your state’s laws. Parents who create POAs very commonly select adult kids to serve as their agents.
State’s Attorney’s Workplace