Articles from Mair Law Offices

Our blog article posted on October 11, 2017 addressed the reasons to have a Durable Power of Attorney (DPA). With a DPA you can authorize someone else to act on your behalf, so he or she can do things like pay everyday expenses, collect benefits, watch over your investments and file taxes.

If no one is ready to look after your financial affairs when you can’t, your property may be wasted, abused or lost. Some people are prepared for this and have appointed someone to act in their place. Others are not and they are often faced with unnecessary headaches and legal issues. In the case of incapacity, it is their family that must deal with the headaches during an emotional time. A spouse is often named as the agent with one or more successor agents in case the spouse is unable act.

If you care about making things as easy as possible for yourself and your family if incapacity occurs, you must have a strong power of attorney in place. Choosing the right power of attorney can be difficult, especially if you have many family members to select from. Remember that this person is dealing with your financial issues. Your agent under your health care proxy is making medical decisions for you when you are unable.

Here are some considerations to help you make the right decision:

• Select someone who has your best interests at heart. You may think someone who has a strong background in personal finance is a good option, but that knowledge will not help if the person you choose cares more about their own interests.

• Select someone who can handle the responsibility. Making legal and financial decisions can be tough, especially for your attorney in fact when your exact wishes are not outlined clearly. Handling someone else’s finances and obligations can also be a very time consuming and stressful job. Make sure that the person you choose is prepared and willing to undertake the task.

• Select someone who is emotionally strong. Emotions sometimes impact judgment when it comes to making decisions for a loved one. And in families where there are siblings, grown children, parents and a spouse, there can be conflicting opinions. Ultimately, it is the attorney in fact who has the final say so this person must be able to withstand possible confrontations.

Still not sure how to select your agent under a power of attorney? A qualified attorney can help you with the process. If you’re interested in reading about other legal topics or have questions that you can’t find answers to just let us know. You’re invited to schedule a free consultation. You can also email glen@gmairlaw.com or call 508.250.0797.

This article is intended to inform you of developments in the law and to provide information of general interest. It is not intended to constitute legal advice regarding a client’s specific legal issues and should not be relied upon as such. This article may be considered advertising under the rules of the Massachusetts Supreme Judicial Court.