Power of Atty

[Kay of Houston]

So how do I go about getting a Power of Attorney to my son in his his name?

[Fizley]

A power of attorney is a legal document giving the authority for another person to act upon legal or financial matters.

Usually a power of attorney is given for someone who cannot take care of their financial or legal affairs due to a cognitive issue (age related disease or accident).

You need an attorney specializing in elder law on trusts and probate.

[Kay of Houston]

Thank you for the input. My son suggested it cuz hes the main one on my insurance policy.

[Fizley]

Just curious why does your son want a POA? A POA would give him full access to your bank accounts or any other asset.

If your son wants you to develop an estate plan (a trust or will)that includes a health care directive and a POA when declared medical incompetent to handle your financial affairs---Absolutly, very smart of him to ask.

As long as your healthy with no known health issues I would NOT give your son a POA.

[Chung Tran]

there are different kinds of POA.. durable, general.. most of them are SOLELY for Health issues, like admitting to a Hospital, or making life-death decisions (like you are on life support). I wouldn't freak out over his desire for a POA.. more people should have them than do.

[DallasRain]

True
My sisters have medical power of attorney for my mom... meaning they can makes medical related decisions for her well being

[Fizley]

Originally Posted by Chung Tran

there are different kinds of POA.. durable, general.. most of them are SOLELY for Health issues, like admitting to a Hospital, or making life-death decisions (like you are on life support). I wouldn't freak out over his desire for a POA.. more people should have them than do.

Chung in my world financial abuse is a real thing. My immediate thoughts were elder fraud. I know nothing of Miss Kay, but admit my spiney sense regarding financial abuse was up.

If he is looking for a will or a trust with a health care directive. I am in your court.

[Unique_Carpenter]

Kay,

As others above have alluded to, you need to determine what type of POA.
For financial matters, my question is why?
For medical, note that most states, per state law, recognize next of kin for medical decisions without a poa.

For your son being the beneficiary on your insurance, a POA is not needed. He's the beneficiary. All he has to do is send in a death certificate and the proof of who he is.

So we're back to why? Fizley is correct. Best to spend a few hundred with a probate/estate lawyer to get exactly what you desire. As an example, I have three, for different purposes.

And by the way, do not use any printed off the web or out of a book (think god no ones suggested that). Laws are different state to state and those usually end up not being filled in correctly, and later being rejected by a hospital, bank, etc.

As a side comment, for bank/investment accounts, vehicle titles, etc, you can set them up with a "TOD" or "POD" (transfer/pay on death) designators. And whoever you have listed just needs to show up with a death certificate and proof of ID. For real estate, a Beneficiary deed to yourself with whomever as Beneficiary.

Again, laws are somewhat different between states. Again, see a probate/estate lawyer. And, have a will done as well for a bit more.

In closing, and as contrast, for the guys, why see a flaky STG wannabe, when a trusted professional is also a phone call away.

[Kay of Houston]

Thank you for the info.

I think he got concerned after my last stint in ICU recently. Also, his wife is in the medical field and I believe she may have brought it up to him.

If I was ever on life support, he knows what my wishes would be. He doesn't care about my money, so no worries there. If something were to happen to me, I would want him to have anything I have.

Thanks for all the advice.

Kay of Houston

[Unique_Carpenter]

Then, a durable power of attorney for health care decisions is the topic.

Although not actually needed if there's only one next of kin who calls the shots, a med poa could easily be needed if there's 2 or more equivalent next of kin that have different ideas about what care someone may need. Most states do have a ranking system for who counts as closest next of kin. Spouse is always 1st. But if 2 or more kids and no spouse, well...

And, these are absolutely needed if you want non-kin to make decisions. Also, you can list primary, second, third, etc. But always list at least two, primary and secondary.

Your mention of his wife being pro medical makes sense as a source. Hospitals are frequently caught in the middle of a who gets to decide argument, which means they can't do anything until the 2 or more agree, and, his wife has prob heard stories which can get quite nasty. Been there, seen that 1st hand.

So thank his wife for her mention.

[JRLawrence]

Originally Posted by Fizley

Just curious why does your son want a POA? A POA would give him full access to your bank accounts or any other asset.

If your son wants you to develop an estate plan (a trust or will)that includes a health care directive and a POA when declared medical incompetent to handle your financial affairs---Absolutly, very smart of him to ask.

As long as your healthy with no known health issues I would NOT give your son a POA.

A POA would give him full access to your bank accounts or any other asset.

Well now, hold on. A power of attorney can be many things, it does not always entitle another to have full control. A power of attorney can be limited in many ways, sometimes to a specific thing, procedure, or duty.

A POA may be for a specific item. Such as, the Limited Power of Attorney (LPOA) to act on behalf of someone for a specific court case, collection or real estate matter.

Example: someone else is managing the affairs of an elderly person, but there is an outstanding debt that needs to be collected. The power of attorney is granted to another person to do whatever is necessary to collect the debt, including hiring another attorney to assist in bringing court actions for collections. The judge approves the person with the LPOA to appear in court to collect the debt (represented by an attorney just for that one specific case).

The LPOA does not affect the rest of the assets of the elderly person. It is a tool to resolve just one item at a time. A limited POA can be very useful while at the same time not allowing someone full access to all of the financial matters of an individual.

Example: I know process equipment and methods. As such, I have had a corporation give me a LPOA to purchase, deliver, install, and put into production certain equipment. This has been given a budget amount for money estimated to complete the project.

• What do you estimate the entire project will cost, including an overrun cost
• Go do it.
• Don't bother us with a lot of design and plans, just make it happen.
• Here us a Power of attorney to act for us.

[JRLawrence]

Originally Posted by Fizley

Just curious why does your son want a POA? ....

As long as your healthy with no known health issues I would NOT give your son a POA.

The time to get the POA is now, not in the future. A POA of this type is usually worded that the authority to act is only under the condition that a health issue develops.

[Financeman22]

I used a POA while my son was doing time with the state, it has to be clear and direct In lwhat can be done & not done. Even then some places won’t accept a POA, such as the
VA. It is best to have an attorney draw it up.

[lbbguy]

LegalShield (cost about $30 per month) will write a state specific will power of attorney etc etc