Eight Power Of Attorney Mistakes

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The power of attorney is a topic that is addressed in every comprehensive estate planning discussion. Given the complexities of estate planning, it is surprisingly easy to make one or more of many mistakes when customizing the power of attorney components of your overall estate planning program.

Here are eight mistakes made when someone attempts to make legal matters simple for trusted loved ones in the event of incapacity:

#1 - Not having a power of attorney
#2 - Appointing the wrong agent
#3 - Not expressly providing certain powers
#4 - Failing to name an alternate agent
#5 - Requiring multiple people to act jointly
#6 - Failing to designate a legal guardian
#7 - Inquiring to your financial institution(s)
#8 - Assuming your power of attorney extends after your death

This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship.

Paul Rabalais
Estate Planning Attorney

[nc]

Number 1: FAILING TO HAVE ONE! Excellent

[williamgauthier]

So glad I found you here on YouTube. I recently assumed the responsibility of POA to my aunt who has no children and I take my POA very seriously and don't want to make any mistakes. There is a fairly large estate involved and to tell you the truth there seems to be "no glory" in the role of POA, just a lot of responsibility that I didn't have prior to becoming POA. Not complaining just saying POA can translate "a lot of extra work". But I love my aunt so I do it with her best interests in mind. So, thank you for the important information you provide here. You've been a big help to me.

[cathibritz]

This is the topic I was looking for today! Yessss!

[emilythemedicarecoach]

Thank you for sharing this information. I absolutely need to go back and look at my power of attorney.

[lindabaker]

Thank you for this excellent video. Full of valuable information and less than 15 minutes long!

[toniatimberlake]

My dad & uncle bought over 10 acres dad started building barn housey. Both wanted there kids living on properties. My sister put property in her name to get loan to build her house, my house was suppose other 1/2 barn house. Sister was suppose to get lot split, she lied and said lot split got denied several times.lieing to our father for years. She gets power of attorney and never put 1/2 property in my name. Sold dads stuff while he was alive in rest home, he died went to property and everything gone, even vehicles in my name. Dad had 1919 model A, 72 El Camino, 85/88 VW pickup diesel and bustleback Cadillac all rare stuff. That just a small portion of his stuff. She sold everything. Never went to probate in CA I didn't even get a piece of string/rope nothing. Vert hard to find attorney with no money. I'm homeless for a lot of years because of her
Dad died almost 2 yrs ago still not buried where his parents are she's not ready and she is moving out of state next week. Do you have any suggestions, tearful and just in total belief she could be this way
We had same parents. I'm her only siblings. Because of her greed on other issues both of her kids don't talk to her. All different issues.

[timothyappleseed]

What does it mean to "compromise a matter"? 5:00

[leannvolsen]

Appreciate all the knowledge you give in your videos, Thank you.

[robdenker]

If a financial institution refuses to recognize your legal power of attorney do you have a legal recourse against them?

[janayfa]

My husband is incarcerated and has made his mother power of attorney. Our house was up for forclosure auction and I heard it was sold but I have not gotten any kind of notice yet. His mother just gave me less than 24 hour notice that she is coming to take everything out of the house. Appliances, furniture, etc. He owned all of this before we met. But even still, we are still married! And there has not been a divorce filed. Before this, I allowed his parents to come over to get some of his things from the garage and they stole several items that were mine and when I informed them to bring them back, they never did and since then have came and gotten more things without my persmission. Can she legally take everything out of the house while Im still living here? I also have our pitbull and we do not have anywhere to go right now.

[everetjackson]

Thanks again, have to think my joint
Power again.

[lynnehenry]

Glad to get a basic introduction with this issue.

[dianem]

After having listened to probably most of your videos, one thing that seems unclear to me is that financial institutions can play often times, by their own rules even though attorney documents are legally and properly written. I reside in Kansas and it seems to me to be a one way street in favor of the banks . Are they not regulated in some fashion when it comes to working with their customers ?

[mimiroberts]

Hi Paul
Can please make a video for a person with no child, no one to truth, but has some people who want to leave things for.
Is it creating truth is a wright thing.
Thanks 5:59

[KastnerVid]

Good points. Yesterday the Title company lawyer said that I could not use my Power of Attorney to sign for the settlement on the sale of my mother's home because the home was listed in the Trust and that I did not have POA for the trust. So I had to drag my 88 year old, legally blind mother to the closing and carefully point to where she had to sign multiple documents. I have an eight page registered POA prepared by a lawyer that says I can sign on my mother's behalf and this title lawyer says I can't because of the trust. Do you think this is right?

[kymcalloway]

Hello thank you so much for this informative video, I just need clarity, so are you saying if you have the power of attorney you also need to apoint someone to have guardianship as well

[mp]

Thank you SO much for this priceless information!

[goldengirl]

I don't understand how/when power of attorney kicks in. I would only want it to be used if I were incapacitated. Power of attorney is a lot of power to give someone and it makes me very uncomfortable.

[mikefa]

Thank you for the informative video! Just a quick Question: Can the designated Power of Attorney make changes to the will or to the trust of the estate when the property owner is deemed incapacitated?

[kelso]

What happens if you cancel a POA. Apparently some places will still view the stamped paper document. Would financial institutions accept it at face value, even though it has been revoked?