Many people in Virginia may expect that when they create an estate plan that includes a power of attorney for finances, the POA will be sufficient to grant those powers. Unfortunately, in practice, this is not always the case.The primary issue is that financial...
Power Of Attorney
How power of attorney benefits senior health care
Receiving quality health care during one's senior years is a crucial part of aging for everyone. There are several very important documents that can help seniors ensure that they get the care they need. These documents include living wills, advance directives and...
An overview of the full power of attorney
If a person is granted full power of attorney, he or she can make financial or medical decisions on a Virginia resident's behalf. This may allow an agent to enter into contracts or put an end to those that the principal has previously entered into. An agent may also...
Revoking a power of attorney when estate planning
Granting powers of attorney is a common part of the estate planning process. In some cases, however, a grantor may actually want to revoke this power. There are three distinct ways to accomplish this goal. The first is to include a termination date in the original POA...
Enduring and general powers of attorney
An enduring power of attorney is a document that legally appoints a person to act on behalf of another with regard to financial or legal issues. They can be useful in situations where someone becomes ill or incapacitated or is spending an extended period of time...
How to alter power of attorney instructions
A Virginia resident may find themselves in a position where they want or need to amend a power of attorney. This may be necessary if there is a need to change the name of an agent or alternate agent. The agent is the person who is granted the authority to make...
What a financial power of attorney can do
Virginia residents who have a financial power of attorney have appointed someone to make decisions for them if they become incapacitated. There are a number of actions that an agent can take, including paying bills or making sure that taxes are filed on time. They can...
Why a person may decline to be an agent
If a person is designated by a parent or close friend as that individual's power of attorney, that person has a right to decline. There are many reasons why this may be a good idea. For instance, the parent may live in Virginia while the child designated as power of...
Power of attorney problems to avoid
Power of attorney documents can be a very important part of planning for the unexpected. These documents allow individuals to select “agents” who would have the power to make decisions for them, such as financial or health care decisions.A common goal of...