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Joseph E. Cordell

Attorney, CPA, Author, Speaker

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Establishing a Durable Power of Attorney [Episode 65]

August 18, 2018 by jceditor

Attorney-CPA Joe Cordell and co-host Susan Arthur dive back into durable Power of Attorney, as they break down the general version, as opposed to the health care version. They talk about different options that surround the durable Power of Attorney, such as whether or not you want the durable Power of Attorney to be in effect immediately and the amount of authority you give someone.

Joe and Susan discuss the importance of having someone spring into action when an emergency arises and the role of a fiduciary in the Power of Attorney process. A fiduciary’s duty when it comes to a Power of Attorney differs from when it comes to trusts, and Joe and Susan discuss the importance of choosing the right person to fill that role for each entity.

Joe highlights the importance of cataloging and organizing important documents and information, in relation to the agent in a durable Power of Attorney and trustees when trusts are in use. He talks about where to start in your elder planning, if you have yet to start.

https://media.blubrry.com/lifes_third_act/media.blubrry.com/eldertalk/content.blubrry.com/eldertalk/Elder-Talk-8-11-18.mp3

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Filed Under: ElderTalk, Podcasts Tagged With: durable power of attorney, durable power of attorney for health care, financial power of attorney, general power of attorney, health care power of attorney, limited power of attorney, medical durable power of attorney, medical power of attorney, Power of attorney, power of attorney for child, special power of attorney

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