Can I Create A Power Of Attorney Using A Free Tool Online Or Should I Use An Attorney?
The creation of a Power of Attorney document is a critical document that can have far reaching consequences as it can convey very broad powers, and if not used properly, can lead to problems. Having an experienced estate planning attorney assist with the preparation of this important document is crucial. While it may be tempting Read on…
How Many Agents Should You Name On Your Durable Power Of Attorney
Clients often ask me if they should have more than one agent named on the New York Durable Power of Attorney (POA). The high-level answer to this question is “it depends”. Logistically speaking, it is often easier if only one agent is appointed on the POA. This is because financial institutions may require both agents Read on…
Does The Durable Power Of Attorney Permit Agent To Make Gifts To Themselves?
The default provisions in a Power of Attorney in New York provide that the agent may make gifts to any persons (including agent), charities, or organizations not to exceed the sum of $500.00 for any calendar year. This provision can place limitations on the ability of the agent to engage in proper estate planning on Read on…
What Is The Difference Between A Power Of Attorney (POA) And Executor?
Quite often, clients (or potential clients) do not fully comprehend the role of both the agent appointed under a Power of Attorney and that of an Executor. Or more importantly, when the role of the agent under that power of attorney ceases. Typically, people sign what is known in New York as a Durable Power Read on…