Written by Benjamin Kingsley
Do you have questions about or need assistance with a power of attorney? Please click here to email us at contact@legalandme.com.
Do you need a power of attorney form? We make a do-it-yourself power of attorney: finance power of attorney or healthcare power of attorney.
Creating a power of attorney (POA) for elderly parents is an important step in ensuring their affairs can be managed if they become incapacitated. To establish a valid POA, follow these key steps:
1. Discuss the need for a POA with your parents while they are still mentally competent. Explain the benefits and address any concerns they may have. It’s crucial that they understand and agree to granting this authority voluntarily.
2. Determine the type of POA needed – typically a durable POA for finances and/or healthcare. A durable POA remains in effect if the parent becomes incapacitated.
3. Choose an agent (usually an adult child) to act on behalf of the parent. This should be someone trustworthy who will act in the parent’s best interests.
4. Work with an experienced estate planning attorney to draft the POA document. The attorney can ensure it complies with state laws and includes all necessary powers.
5. Have your parent sign the document in the presence of a notary public. Some states may require witnesses as well.
It’s important to note that a power of attorney must be signed voluntarily by a mentally competent individual. A POA signed under duress, coercion, or by someone lacking mental capacity would be invalid. No one can be forced to sign a POA against their will. If there are concerns about undue influence or diminished capacity, it’s advisable to have a physician evaluate the parent’s mental state before signing. An experienced attorney can also help assess capacity and ensure the document is executed properly to avoid future challenges.
Do you have questions about or need assistance with a power of attorney? Please click here to email us at contact@legalandme.com.
Do you need a power of attorney form? We make a do-it-yourself power of attorney: finance power of attorney or healthcare power of attorney.