What should we know before agreeing to hold a power of attorney?

1 Answer

Answer :

answer:Under what precise circumstances would the POA and Health Care Proxy take place? I would read the health care proxy with a fine- tooth comb to see what contingencies are covered and what decisions (including draconian ones) you might have to choose. I would also check to see who else might come out of the woodwork if you had to step in. When money is concerned, alienated children and family have a tendency to show up, guns blazing. If you have to act on the financial issues, how much money is involved, where is it (in the bank, managed professionally, under the mattress, ongoing income arriving)? Do you get a fee? Who oversees you if you decide to abscond to Cancun? Is there an attorney you can call on with questions? What is his fee and who would pay that? Do ALL the due dilligence.

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