Can An Agent Make a Gift Under Power of Attorney?

A power of attorney is one of the most fundamentally important estate planning tools. A power of attorney created when you are of sound mind allows you to name someone who will act as your agent. If the power of attorney is "durable", the person you name as your agent can make important decisions about managing your affairs if you become … [Read more...]

What is Guardianship and How Does it Work?

A guardian is someone appointed by the court to control a ward’s assets and make decisions on behalf of the ward. The ward must be declared as incapacitated by the court to be unable to handle his/her own affairs. People who suffer from mental disabilities, including people with dementia and other conditions of old age, may need a guardian if they … [Read more...]

What is a Power of Attorney and When Does it Become Effective?

A power of attorney (POA) is a legal instrument that gives someone else the right to act on your behalf.  The person granting that power (the “principal”) grants the right to act on his/her behalf to the agent, who is also referred to as the attorney-in-fact. The language of the POA determines what powers are granted to the agent; it may be … [Read more...]

On Behalf of My Parent, Should I Act as Guardian or Attorney-In-Fact?

If your aging parent becomes incapacitated and needs someone to make decisions on his/her behalf, including decisions regarding medical treatments, financial issues, or living arrangements, you have a choice between serving as an attorney-in-fact (agent) if your parent has executed a valid Durable Power of Attorney (POA) appointing you as such, or … [Read more...]

What Are The Alternatives for Managing Property When a Person Becomes Incapacitated?

When a person becomes incapacitated due to illness or injury, their property and assets must still be managed in an appropriate manner.  Ideally, it is best for the individual property owner to plan ahead for this possibility, as there are several different options that can be elected in determining who will be responsible for managing their … [Read more...]

Is There a Need for Guardianship?

When a health event occurs or someone becomes ill, that individual could become incapacitated and unable to manage his or her own property or issues facing his or her health or personal matters. In this unfortunate situation a trusted family member or friend or possibly a professional would need to take control of the individual’s property and … [Read more...]