by Thomas D. Begley, Jr., Esquire, CELA<\/p>\n
The Financial Power of Attorney is also known as a General Durable Power of Attorney. The principal designates an individual to serve as an Agent to transact financial decisions on the individual\u2019s behalf. The document should be state specific, because laws in different states vary. It should also be detailed as to exactly what powers are included. Some states have statutory forms of powers of attorney, but these are generally not as effective as individually-customized documents.<\/p>\n
If a Power of Attorney is not in place, a guardianship may be required in order to make medical and financial decisions. While the procedure for appointment of a Guardian varies somewhat from state-to-state, generally, two physicians must certify that the individual lacks capacity to conduct their affairs. Physicians perform an examination, and a commonly-used tool by physicians is a Mini Multi-State Examination. Proceedings must be filed in court. Notice (more…)<\/span><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" by Thomas D. Begley, Jr., Esquire, CELA The Financial Power of Attorney is also known as a General Durable Power of Attorney. The principal designates an individual to serve as an Agent to transact financial decisions on the individual\u2019s behalf.…<\/span><\/p>\n