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 document that does not do what you expected it to do.
The Power of Attorney document is a powerful document. It is designed to be a shield for the person who has it drafted, for the principal. The Agent is supposed to be duty bound to be loyal and never take advantage of the Principal. In a perfect world, this would be fine.
But our world is far from perfect, and the changes in the law can make what you have in place even less perfect. Attorney Mark Mateya has been a lecturer on the new Power of Attorney law since shortly after it was signed into law in July of 2014. He will be happy to assist you in creating a new Power of Attorney document.
Contact Mateya Law Firm to help you with your estate planning needs, including the Power of Attorney document.