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Media Pa Powers of Attorney and Pa Agents – Document Purposes
A Pa Power of Attorney grants your Pa Agent (Fiduciary) the ability to control all of your affairs.
It is a very powerful document; it permits your Pa Agent the broadest of powers to do anything that you could have done (i.e., give all of your money away).
Yet, inherent in the broad powers that your Pa Agent possesses is the possibility – the extremely real possibility – that your Agent under your Power of Attorney may actually do anything that you could have done (i.e., give all your money away).
Media Pa Powers of Attorney and Pa Agents – Fiduciary Traits
- Your Agent should be able and willing, first and foremost.
- Your Agent should also be levelheaded and familiar.
Media Pa Powers of Attorney and Pa Agents – Common Misconceptions
- A common misconception is that a Power of Attorney eliminates your ability to act for yourself. Quite to the contrary, and until you are deemed to be incapacitated, a Power of Attorney should properly be viewed as a “shared authority.” After you have executed a Power of Attorney, you still retain all of the powers and decision-making abilities that you possessed beforehand, including the power to revoke the Power of Attorney.
- Another common misconception is that your Agent needs your permission to act. Quite to the contrary, a Power of Attorney is a very powerful document. It permits your Agent the broadest of powers to do anything that you could have done (i.e., give all of your money away), and, inherent in the broad powers that your Agent possesses is the possibility – the extremely real possibility – that your Agent under your Power of Attorney may actually do anything that you could have done (i.e., give all your money away).
Media Pa Powers of Attorney – Purposes
Pa Powers of Attorney are documents that convey legal authority (to the Pa Principal) to act in the name of another person (Pa Agent) for his or her health and welfare. This document is similar (almost a sister document to a Pa Living Will (“Advanced Directive for Health Care”).
A Pa Power of Attorney can grant broad authority or be very limited in scope. I help you prepare for contingencies based on the specific circumstances surrounding you and your loved one. However, generally speaking, powers of attorney address three main areas of concern:
When your loved one is incapacitated, bills and taxes still come due. Your loved one may have financial assets, such as stocks, stock options, bonds, or royalties, which require oversight. Having the authority to manage your loved one’s finances if necessary provides greater financial security. Older adults who are forgetful or susceptible to phone scams can also benefit from a loved one overseeing their bank accounts.
To protect your loved ones, you need clear legal authority to make decisions if they are unable to do so. John B. Whalen, Jr. Esq. can help you draft and execute Pa Power of Attorney documents so you can be certain about your authority when a loved one needs you most.
Representation for legal and business matters
Small business owners and individuals involved in litigation are faced with numerous choices. These decisions, which must often be made on a daily basis, can have serious consequences. Even if your loved one is not ready to step away from day-to-day management of business and legal matters, executing power of attorney is a prudent contingency plan.
Authority to make medical decisions.
When a medical crisis strikes, many families are unsure about the extent of lifesaving treatment the injured or ill person would have wanted. Every adult should have a medical directive explaining their wishes clearly and specifying someone to carry out their desires when they can’t communicate.
Sudden illness or injury can leave anyone totally incapacitated. Or, the infirmities of age can compromise an older adult’s ability to fully function independently. Under such circumstances, concerned loved ones may feel compelled to act, but may lack the legal authority to do so. This can delay essential care, threatening your loved one’s health and welfare when he or she is most vulnerable.
It can be difficult to talk to a senior loved one about the need for power of attorney documents. Many are loathe to admit they may need assistance, especially from their children, and are uncomfortable even considering a reversal of roles which puts them under their children’s authority. I am very familiar with this dynamic, and can advise you on effective ways to broach the subject with your elder loved ones.
Contact a reliable Wayne lawyer for powers of attorney that protect your loved ones
A loved one’s illness, injury or infirmity can leave them vulnerable to financial losses and serious threats to their health. A carefully drafted power of attorney can give you and your loved one greater peace of mind.
John B. Whalen, Jr., JD., LL.M., is an AV Peer Review Rated Preeminent 5.0 and Avvo Rated 10.0 Superb premier and prestigious Attorney and Counselor at Law. He is featured on Avvo, Justia, Lawyers, LinkedIn, Martindale, Nolo, and Thumbtack. He has amassed over 70 prestigious professional awards and over 5000 client reviews and endorsements. His main office is located at 1199 Heyward Road, Wayne, PA, 19087, and he serves all surrounding counties, on all 7 days, from 9:00 AM to 10:00 PM, and on evenings, weekends, and holidays. He can be reached by email at firstname.lastname@example.org, and by telephone at 1-610-407-0220.