Mar 17, 2015

Did you know that Powers of Attorney cannot be used after the death of the principal?”

Many people have a general idea about powers of attorney and what they do. A Durable Power of Attorney is an excellent estate planning tool that allows you to designate someone you trust to act on your behalf for a specific transaction, for a specific purpose, or to generally transact business on your behalf.

However, once you die, your agent‘s power under your power of attorney lapses, and your agent can no longer act on your behalf. Upon your death, the provisions of your Will govern management of your Estate, and your designated personal representative is now tasked with management and distribution of your estate, in accordance with the provisions of your Will.

To have a complete basic estate plan, we recommend that you have a Durable Power of Attorney, Health Care Directive and Will.