A Power of Attorney is a very important legal document. Even if you don't need a trust you should

 still have a durable power of attorney for your financial needs in case of serious illness or if you are unable to manage your own estate.

 David A. Casey - Attorney

Need a Power of Attorney?

365 Broadway, Suite 203 - El Cajon, California

Telephone (619) 447-6780  - E-mail:  Familylaw1@aol.com

* Durable Power of Attorney-  A durable power of attorney is also called DPOA.  This document is normally several pages long and each person needs his or her own.  This appoints someone, such as a spouse or a trusted relative, to act for you as a financial manager if you are unable to do so for some reason.   This could be a temporary or a long term appointment.  Some powers of attorney are limited and others have a broad scope of powers.

Q.  Who should have a Power of Attorney?  Anyone who has assets or may need debts paid or assets managed.  But the group of people who needs it the most, seem to wait too long to get one.  Anyone over age 60 or who has poor health should have one in place. 

Q. Whom should I name as my attorney in fact? Most of the time the primary agent is your  spouse if you are married.  But if your spouse is in poor health or may be unable to act on your behalf, you want to have at least another subsequent agent.  It is not uncommon to have two or three alternate agents or sometime even having two agents working jointly. 

Q.  Is a power of attorney revocable?  YES!  you can revoke it at any time and you can change who will act as your agent.     The power of attorney has a limited effective span. 

Q.  Can I limit the agent powers?  Yes, you can limit the powers or make it only effective upon certain conditions.   You might want to give your agent the right to sell your real property but only if certain conditions have been met such as long term  placement in a heath care facility or when a doctor indicates that the patient is no longer able to care for themselves.  It is up to you what limits you place on it.

Q. Does limited power of attorney cover my health care needs?    Generally powers of attorney for finances do not cover health care issues.   Perhaps you want your agent to have specific power over your finances but want someone else to have power over your health issues.  Also,  you would not want a health care provider seeing what finances you have, you'd want to just limit that to health care issues, not the money issues. 

Limiting certain powers.  I normally recommend that the agent does not have the right to change the life insurance beneficiary, retirement beneficiary or to change any of the trust unless it is the surviving spouse.  

If this is a second marriage with children from another marriage, I would recommend limiting the right to make changes to the trust since it could disrupt the distribution to the children of that person.    A durable power of attorney is supposed to help manage the assets until the distributions of the trust, not to change the intent how it is supposed to be distributed.

Convenient service,  a Notary can travel to you!   After your Power of Attorney is prepared by my office,  an independent notary can travel to the hospital, nursing home or  residence to deliver the document and get it notarized.    The document can be prepared quickly over the telephone, fax, e-mail with the important information you provide! 

Estate Planning Documents Available! 

If you need a power of attorney,  limited power of attorney or special need power of attorney,  don't hesitate,  call now!

(619) 447-6780

If you need estate planning,  call for a consultation.   Trust portfolios include:   Trust Certifications, Pour Over Wills, Physician Directives,   Health Care directives, Durable Powers of attorney for health and finances,  revocable trust, etc. 

If your estate has a gross value over $100,000, you should have a living trust and all the supporting documents.  If you own any real property in California, a living trust protects your assets!  Special discounts to Seniors and Military.   I will  travel to your home, hospital or to an agreeable location when needed.   A Mobile Notary is also available.

More information regarding Powers of Attorneys.

          WHAT IS THE OBLIGATION OF THE AGENT?

The Agent is obligated to act in the best interests of the Principal, and to avoid any "self-dealing." Self-dealing is acting to further the selfish interests of the Agent, rather than the best interest of the Principal.

An Agent appointed in a Power of Attorney is a fiduciary, with strict standards of honesty, loyalty and candor to the Principal. An Agent must safeguard the Principal's property, and keep it separate from the Agent's personal property. Money should be kept in a separate bank account for the benefit of the Principal. Agents must also keep accurate financial records of their activities, and provide complete and periodic accountings for all money and property coming into their possession.

Make clear to your Agent that you want accurate records of all transactions completed for you, and to give you periodic accountings. You can also direct your Agent to provide an accounting to a third party-a member of your family or trusted friend-in the event you are unable to review the accounting yourself.

Is it possible for an Agent to steal my money and property?

Yes. A Power of Attorney can be abused, and dishonest Agents have used Powers of Attorney to transfer the Principal's assets to themselves and others. That is why it is so important to appoint an Agent who is completely trustworthy, and to require the Agent to provide complete and periodic accountings to you or to a third party.

Can a transfer of a Principal's assets to other people be a good thing?

Yes. A Principal may want to authorize transfers or gifts property for estate planning and other valid purposes. New statutory short-form Powers of Attorney in New York State permit Agents to make gifts to members of the Principal's family, if the Principal so authorizes in the Power of Attorney. The Principal can also customize a Power of Attorney to permit the Agent to make gifts to non-family members.

        Who monitors the actions of my Agent?

There is no official or government monitoring of Agents acting pursuant to Power of Attorney. That is the responsibility of the Principal. It is therefore important to insist that your Agent keep accurate records of all transactions completed for you, and to provide you with periodic accountings. You might also direct your Agent to give an accounting to a third party in the event you are unable to review the accounting yourself.

Do I need to have my signature witnessed on a Power of Attorney?

Yes. Your signature on the Power of Attorney must be witnessed by a Notary Public.

Do I need a lawyer to prepare a Power of Attorney?

No. You're not required to hire a lawyer. However, because a Power of Attorney is such an important legal instrument,  it is my opinion if you have substantial assets, over age 60 or in poor health, be a good consumer and have an attorney draft one for you.  If you are 18 years of age and don't have assets,  then  the "form" kind of document is acceptable in most cases.  However by the time most people reach age 30 with children with money issues, an attorney prepared document designed for you, is  something that is worth more than the small fee.  Most durable powers of attorney cost around $100.00 unless your estate is very large. 

• provide legal and other advice about the powers that are appropriate to be delegated
• provide counsel on the choice of an Agent
• Outline the Agent's legal and fiduciary obligations while acting under a Power of Attorney; and
• ensure that the Power of Attorney is properly executed and meets all legal requirements.