Save Your Estate

Why should the government or anyone else direct what happens with your estate assets? Why should a court, a stranger, or someone other than your choice make the medical and financial decisions for you if you become sick and incapacitated? Why should anyone other than your spouse, life partner, or the one you choose make the decisions about your illness, hospital visits, your funeral and what happens to your estate?

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Ronald J. Cappuccio, J.D., LL.M.(Tax) is a tax and business attorney practicing since 1976. Ron is a Graduate of Georgetown University, the University of Kansas and the Georgetown University Law Center. He also studied at Exeter University, UK.


Ron protects business and individual taxpayers from IRS Audits, Tax Collections (including bank levies, wage executions) and IRS Appeals. Employee vs. Independent Contractor Issues, Manufacturer, Pharmaceutical and Restaurant and Pizza audits are a special area of emphasis.

Thursday, January 06, 2005

Validity of a Power of Attorney

Question:
Category: Probate, Trusts, Wills & Estates
Location: NJ
Subject: POA - only for family or for state

I was appointed as Durable POA for my father, as he is terminally ill. I moved in to my father's home to take care of him. I, my brother (who will be executor) and sister agreed this was the best for Dad, and all approved my ''appointment'' as POA. Sorting through Dad's financial affairs (he has no debt)I found a paper in Dad's handwriting describing his intent of consolidating annuities, giving gifts, etc., and ''rearranging'' benificiary status of family as Mom passed away last January. After showing the appropriate banks my POA papers, I have done all Dad's intentions. Now my brother is afraid of legal backlash as he accuses me of overstepping my authority - even though he wrote the POA from a computer program. Are the POA docs just for family protection of assets or for state probate scrutiny?

ANSWER:

YOU NEED A LAWYER NOW! Unfortunately, in a vain attempt to save a few dollars in legal fees, you may have an invalid or inappropriate Power of Attorney. Estate Plans are not simply copying "form" documents. They need to be custom crafted for each particular situation. You need immediate legal help to analyze whether you have exceeded your authority!Good Luck!