If you have followed our blog posts at all, you know that we have been following Aunt Gertrude and her niece, Milly. Aunt Gertrude needs some assistance with day-to-day activities, and definitely needs help balancing her checkbook. Milly is her loving, caring niece. Milly loves her Aunt Gertrude and ‘would do anything for her.’
Aunt Gertrude needs someone to help her, but who should she choose? How should she decide who this person is going to be?
The Durable Power of Attorney is a powerful document. It gives the person you choose, called the Attorney in Fact, the authority to step into your shoes and do virtually everything you can do. Should Aunt Gertrude appoint Milly, just because she is her blood relative? Will Milly come through and do the right thing for her Aunt Gertrude?
Anyone who is in Aunt Gertrude’s position must make this choice carefully. Milly could spend money without Gertrude’s knowledge and deplete her funds. Milly could sell Gertrude’s house, leaving her ‘dear Aunt’ without a place to stay. Milly has been placed in a position of trust – a position that carries great responsibility.
A word to the Aunt Gertrude’s reading this: Choose carefully.
Please contact Mateya Law Firm to help you with your estate planning needs, including the Power of Attorney document.