A power of attorney document that is written in a general sense does not typically contain any limitations, meaning that it will give the appointed attorney in fact or agent broad authority of financial or medical decisions.
Your power of attorney holds specific and clear powers when it comes to management of your affairs so long as you detail it this way in the creation of the original document. This is why a sit down conversation or phone call with your Pasadena estate lawyer is so important to determine what kind of POA you’ll need.
However, there are a couple of things that an agent cannot do and one of the key rules governing an agent’s power is that they must be prepared to act in the best interests of the principal. There are a few specific things that a power of attorney agent cannot do. This includes:
- Breaking the fiduciary duty that they hold to act in the principal’s best interests.
- Change a principal’s will.
- Transfer or change the power of attorney to someone else although an agent does have the ability to decline their appointment at any point in time.
- Make decisions on behalf of the principal after the principal has passed away unless that party has also named the agent as executor of the will.
To learn more about the importance of selecting the right person to serve as your power of attorney agent, schedule a consultation with a trusted estate planning lawyer today.
If you want to draft your very first power of attorney, you need a lawyer to guide you through this process. This is also your opportunity to ask a lot of questions and understand how your POA impacts your overall perspective and needs. Our Pasadena law office is here to guide you through the creation and updating of your estate plan.