Unless the Court or the conservator says otherwise, your agent can continue using the Power of Attorney to handle your affairs. WHAT IF I CREATE A POWER OF ATTORNEY AND LATER THE COURT APPOINTS A CONSERVATOR FOR MY ESTATE?
POWER OF ATTORNEY FOR FINANCES CODE
Your Power of Attorney must comply with the provisions of the California Probate Code from Section 4000 through Section 4065. Or similar words that show you want the document to be valid even if you become incapacitated. "This Power of Attorney shall become effective upon the incapacity of the principal",
"This Power of Attorney shall not be affected by subsequent incapacity of the principal", or If you want the Power of Attorney to be durable, it must say either: The document must be acknowledged by a notary public or signed by at least 2 adult witnesses. You can ask someone to sign for you, but you have to watch him or her do it. HOW CAN I BE SURE MY POWER OF ATTORNEY IS VALID? If you have one or more people you trust, and you know what powers you want to give them, you can find a preprinted document that matches your needs. Next, ask a lawyer for advice, or read about Powers of Attorney so you will understand what you are doing before you sign anything. Are there alternatives to a Power of Attorney? Then, ask yourself if you trust that person. HOW DO I KNOW WHAT TO PUT IN MY POWER OF ATTORNEY?įirst, decide exactly what powers you want to give to your agent. Some institutions, like banks, have their own Power of Attorney forms. This is the form that banks, escrow companies, stockbrokers, and other institutions know best. If you use a preprinted form, we recommend you use one that uses the same words as the Power of Attorney from Probate Code, § 4401. a stationery store or other store that sells pre-printed legal forms.You can get a blank Power of Attorney form from:
WHERE CAN I GET A POWER OF ATTORNEY FORM? This means it will last either until you cancel it or until you die. Or, your Power of Attorney can be durable. You can decide if you want your Power of Attorney to expire on a certain date, or after your agent does a specific task. You can make it go into effect immediately (when you have all the needed signatures), or only if you lose the ability to make financial decisions. WHEN DOES MY POWER OF ATTORNEY GO INTO EFFECT? You can make all the financial decisions you used to before you had a Power of Attorney.ĬAN THE AGENT DO THOSE THINGS FOR ME, TOO? ONCE THE POWER OF ATTORNEY IS IN EFFECT, CAN I STILL MAKE DECISIONS ON MY OWN? The alternate can step in if the other agent is unable or unwilling to serve. Sometimes people appoint two or more people who make decisions for you together. That person may be able to access your bank accounts, sell your house, buy and sell stock in your name, cancel your insurance, or perform other important and sensitive transactions. Be careful to appoint someone you trust completely. It is safe if the person you appoint is trustworthy and competent. This is because, if you are incompetent, it would be the agent who is deciding to make the gift of your property to him or herself. one that remains in effect even if you become incompetent, a gift to your agent after you become incompetent may be restricted by law. However, if your Power of Attorney is a “Durable Power of Attorney,” i.e. WHAT IF I WANT TO MAKE A GIFT TO MY AGENT? If you are 65 or older, and your agent takes your property without authorization, s/he can be charged with elder abuse. Unless you specifically make a gift to him or her, it is against the law for your agent to make gifts to him or herself. Your agent can establish a trust, but cannot make or change your Will (Probate Code Section 4264 ). You can also limit the kinds of financial decisions you want your agent to be able to make. Your agent can do almost anything the Power of Attorney permits.
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