Power of Attorney: Changing the Game

2015-04-15T14:07:25+00:00 April 15th, 2015|Estate, General, Power of Attorney Abuse|

The rules on the Power of Attorney document in Pennsylvania have changed. If your Power of Attorney was drafted before January 1, 2015, then you need to consider having a new Power of Attorney document created for you.

“Isn’t my old power of attorney still good?”
“Yes. Sort of.”
“What does ‘yes, sort of’ mean?”

It means that the document is still valid, but the old document is now read in light of the new law. There are definitions which are missing; there are new definitions which didn’t exist at the time your present POA document was drafted. You could end up with a […]

Power of Attorney: Can My Bank Insist I Use Their Form?

2017-01-17T22:40:58+00:00 February 10th, 2015|Estate, Estate Planning and Administration|

You walk into the bank with your lawyer-drafted Power of Attorney form and ask to see Aunt Milly’s bank statements.

“I’m sorry; this isn’t a BIG BAD BANK form. Here at BIG BAD BANK, we have our own forms which are practically perfect. You have to use one of our forms.

“But my attorney drafted this. I paid good money for it!”

“But here at BIG BAD BANK, we’re looking out for the little guy. We know what the form is supposed to look like. Sorry.”

That conversation has been the norm for many years in Pennsylvania. And, in BIG BAD BANK’S defense, there […]

Estate Planning – The Power Of Attorney Law Has Changed

2015-01-29T14:51:58+00:00 January 29th, 2015|Estate|

In July of 2014, Pennsylvania’s legislature changed the Power of Attorney Law in substantial ways. This blog is only going to address one of those changes. In succeeding entries, I will address some of the other changes.

Before I begin, please understand that your power of attorney document can be drafted to your specification. In fact, it should be drafted and personalized to your desires. The changes that I am going to address are the ‘default’ changes which the statute has made. With few exceptions, your document can be made to do precisely what you wish for it to do.

Also, remember […]

Taking Control of Aunt Gertrude’s Estate

2017-11-15T15:59:13+00:00 June 18th, 2012|Estate|

If you have been following our story of Aunt Gertrude and her niece and attorney-in-fact, Milly, you have heard me spin some real yarns about what Milly has done. Today, let’s look at what could happen after Aunt Gertrude dies.

Suppose Aunt Gertrude had trusted Milly for years and that for years Milly was trying to do all she could to help her dear Aunt. Then, a few years before Aunt Gertrude passed away, two events happened which changed everyone’s life forever. First, Aunt Gertrude was diagnosed with an incurable disease which would eventually take her life and, in the […]