Is my POA out of date? A checklist

Is my POA out of date? A checklist

By Douglas D Germann, Sr.
© 2011, 2014, Germann Professional Corporation. All rights reserved
Questions? Contact Doug at 574/291-0022; fax 574/291-0024

A Power of Attorney (POA) can often take the place of going to Court to have a guardian appointed. They empower your attorney-in-fact to make decisions about your finances and health care,  including whether or not life prolonging measures should be taken. It also gives your medical attorney-in-fact the ability to decline or remove tube feeding.

Which of these provisions are missing from your POA?

  • Does your POA provide that if you put a child or other person on your bank account they do not own it at your death?
  • Does your POA cover your email and website passwords and user names?
  • Do you have a separable Appointment of Health Care Power of Attorney?
  • Can your POA specifically deal with your retirement plans?
  • Did you give your POA the power to make your funeral planning decisions?
  • Does your POA give the power to make gifts, buy annuities, and do other things to make it Medicaid friendly, if need arises? Does it allow your agent to set up a “Miller Trust” for you?
  • Can your POA delegate powers or appoint a successor and specifically allow that person to continue to serve after the appointer dies?
  • Is there a provision that allows for the expansion of powers if necessary?
  • Does your POA give HIPAA medical privacy authority to people you trust? Does it allow them to take part in all medical decisions, and be present in all exams and settings?
  • Does your POA state your intention that it be respected in other states and countries, even if it does not meet their formalities?
  • Do people serve as your POA one after the other, or either/or? You could name all your children as your POA, with any one of them able to make decisions. The first does not have to resign to allow the one who is in town to act for you. Or they could split up, one going to the bank, another to the stock broker. Would you like this flexibility?

If any of these provisions are missing from your POA, it is time for you to meet with your attorney and bring your documents up to date. It is a good idea to get your Will out and see if it still does what you want, too.

For a checklist for healthcare professionals for Triaging a POA, click here, or give us a call. 574/291-0022.

For a free checklist for reviewing your Will, click here, or give us a call. 574/291-0022.

Douglas D. Germann, Sr., Professional Corporation P.O. Box 2796, South Bend, IN 46680-2796 telephone 574/291-0022; fax 574/291-0024 email [email protected]

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