The law has changed concerning the Power of Attorney document. There are many technical changes, some which deal with protecting the principal, that is, the person signing the document. There are some changes which protect the banks and others from reliance on a defective power of attorney document.
The thing that did not change, and likely cannot change, is that the person who is appointed as the agent, or attorney-in-fact, for the principal, still has a moral obligation to do the “right thing.” Many hours, and countless cups of coffee (or glasses of adult beverages) have been imbibed while discussing the meaning of doing the “right thing” where the agent’s actions are concerned. One thing is clear. There is no clear meaning to doing the “right thing.” With that in mind, I suggest the following.
When choosing someone to be your attorney-in-fact on your power of attorney document, carefully choose someone who shares your values. Choose someone whose judgment you trust. That way, when your attorney-in-fact faces a tough decision, you have confidence in that person and know that they will do their best on your behalf.
Please contact Mateya Law Firm to help you with your estate planning and administration needs.
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