Q. I am in my late 80’s and am updating my estate plan. I find I have an important decision to make: in my Power of Attorney (“POA”) and my Trust, if I ever lose mental capacity should I require the opinion of two doctors, or just one, to certify my incapacity before duties transfer… Read More »
Posts Categorized: Powers of Attorney
Selling or Refinancing Your Home When Your Spouse Can’t Sign
Q. My husband has dementia and I wonder about my ability to refinance or even sell the home, as he cannot sign. The home is held in a Living Trust. Can you advise? A. The short answer is that, under these circumstances, it may be easier for you to sell the home than it would… Read More »
What Is a ‘Springing’ Power Of Attorney
Q. I recently heard the term “Springing” Power of Attorney, but I am not sure what that is. Can you shed any light on this? A.. Sure. Broadly speaking, there are two general categories of financial Powers of Attorney: (1) those that are immediately effective upon signing by the principal, and (2) those that are… Read More »
Can I Use Father’s POA To Make Gifts To Accelerate His Eligibility for Medi-Cal?
Q. My father suffers from advanced dementia and needs care in a nursing home. It costs about $9,500 per month, and we are rapidly spending down his savings. I was told that he might qualify for a Medi-Cal subsidy to help with the cost once his savings are below $2,000. Years ago he signed a… Read More »
Using ‘Unavailability’ As a Medi-Cal Spend Down Strategy
Q. I need to qualify my mother for a Medi-Cal subsidy to help pay for her nursing home care, due to her progressive dementia. However, she has about $20,000 in a bank account with just her name on it, and no power of attorney in place to allow me to draw upon it. I was… Read More »
How Does Mom Revoke Her Power of Attorney?
Q. My mother named my brother as her agent under her power of attorney to handle her financial affairs, but he seems to be abusing his authority and my mother wants to revoke it. Can she do so, and how would she go about it? A. The simple answer is, yes, she can revoke her… Read More »
How Does an Alternate Agent Under Power Of Attorney Take Over?
Q. Years ago, when my mother and father created their powers of attorney, they each appointed the other as their first choice agent, and appointed me, their son, as first successor. Neither of my parents is now able to handle their own affairs, nor act as agent for the other. How do I step in… Read More »
Powers of Attorney Are Not All The Same
Q: My friends and I were recently discussing powers of attorney. It seems that we have different understandings as to what they look like and how they can be used. Can you provide me with a short lesson which I can share with them? A. Sure. Powers of attorney are very important legal documents. In… Read More »
If I Act As Agent For My Friend Under POA, Do I Become Responsible for His Debts?
Q. A good friend is setting up a financial power of attorney and has asked me to be his agent. He feels his own children are not responsible. If I agree, am I putting my own assets at risk? He is in declining health and I may have to take over his financial affairs soon…. Read More »
No One to Name As Executor? Consider a Private Fiduciary
Q. I would like to prepare an estate plan, but I do not have a spouse, children or relative whom I could name as executor or trustee. Any thoughts about how I can proceed under these circumstances? A. Yes, and be assured that you are not alone. Many persons find themselves in your situation, whether… Read More »