de VRIES LITIGATION LLP is pleased to announce that Justin de Vries, principal of the firm and founder of the All About Estates blog, has partnered with Susan Hyatt, Chair and CEO, Co-founder of Silver Sherpa Inc., to co-host SMART AGEING, SMART ESTATES, a podcast published through All About Estates.
Estate planning and elder care management ordinarily operate as separate disciplines. SMART AGEING, SMART ESTATES brings both perspectives into a single discussion, providing listeners with a more complete view of smart ageing and successful succession planning, including the benefits and potential pitfalls. The discussions are lively and interactive.
Episode 1: Powers of Attorney
Episode 1 examines powers of attorney. A power of attorney for property grants someone you choose the authority to manage your money and financial affairs when you can’t, an arrangement that can sometimes lead to conflict, strained relationships, or even litigation. A power of attorney for personal care addresses six distinct domains: housing, nutrition, safety, personal hygiene, health care and clothing. Many clients assume that a power of attorney for personal care concerns only medical decisions. That assumption can leave gaps that become apparent during a crisis, when the scope of the appointment is tested.
Outdated documents, an unsuitable appointment or a failure to communicate effectively with family are not mere administrative oversights. They are conditions from which power of attorney conflicts commonly arise. Accordingly, every adult should maintain current powers of attorney, each naming an alternate and supported by discussions with those affected.
Episode 1 also considers the increasing pressure from financial institutions to execute bank-specific forms, an issue many clients encounter without adequate guidance. As Justin notes: “Resist the temptation to have a separate power of attorney for your personal finances. You can present your general power of attorney to the bank. That should be good enough.”
Listen to Smart Ageing, Smart Estates. Episode 1: Powers of Attorney
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