Power of Attorney
What is Power of Attorney?
Appointing a Power of Attorney allows someone to make legal and financial decisions on your behalf.
People are often nervous about giving power to someone else. For those of you that don’t know what a power of attorney is – it allows you to appoint someone else to make legal and financial decisions on your behalf. For instance, the person you appoint could be able to sign checks and contracts on your behalf.
Clearly, your Power of Attorney has to be someone that you trust. Many people hesitate to give someone else this power because it can be abused. People have heard horror stories of someone using their power to clean out bank accounts, to sell stock portfolios, or to take on debt in someone else’s name.
You can have confidence that your Power of Attorney will be appointed properly with the help of an experienced lawyer at the Law Offices of Murray, Phillips & Gay.
Delaware created a new Power of Attorney form.
In 2010, Delaware created a totally new form that must be used by statute. This new form actually lists separate individual Powers. The person executing the form has to initial next to each power that they want to grant.
It is no longer just a “blanket” document. This makes it less scary. It should allow a person to feel comfortable enough to execute a document, yet feel assured that power will not be abused.
Everyone should think about appointing a power of attorney. You never know what is going to happen. Having someone designated to handle legal and financial affairs is worthwhile.
You might think that as a healthy adult, you don’t need to think about this. However, you never know when the unthinkable will happen. Protect yourself and your family by preparing for your end of life. Being prepared isn’t just for the aging or the ill. It is for everyone.
Work with an Experienced Lawyer
We at the Law Offices of Murray, Phillips & Gay will be glad to sit down with you to discuss this so that you can make an informed decision. If this is something you are interested in, give us a call at 855-9300 or contact us.