Warnings about a Power of Attorney

By Attorney SusAnne Lee Jenkins

Make sure you fully understand the power you are signing.  There are many dangers you need to be warned about when is comes to a financial power of attorney.

1. Do no let ANYONE pressure you into signing something you do not understand or agree with.
2. Make sure you fully trust and have no doubts about the power you are giving the person you are naming as your agent.
3. Understand if you are giving an immediate or a springing power.
4. Understand if you are giving a  complete power or a limited power.
5. If you have children or family who will fight about your choice, write a letter to them telling them why you made the decision you did and put it with your original power of attorney.
6. Be VERY careful about listing a caregiver on a power of attorney "because it is convenient."
7. You can REVOKE the power at any time.  IMMEDIATELY see a lawyer for the proper way to revoke a power of attorney.  In some instances, merely tearing up the document granting the power is NOT ENOUGH.
8. If you suspect elder abuse or financial abuse, immediate report it to the authorities.