Creating a power of attorney can be a fairly easy task if you keep a few items in mind:
1. The Power of Attorney has to be created while you have the capacity to do so. Do not wait until you are ill to create this document.
2. The power may be specific or general. You can limit what your agent can do.
3. You must specify whether it needs to go into effect immediately, or (springing) upon your incapacity.
4. You can require an accounting from your agent under the power of attorney.
5. You can make the power durable so that it remains in effect in the event of your incapacity.
6. Never give power of attorney to someone you have known for a short period of time.
7. Leave specific instructions and communicate with your agent to let them know how to handle things when you are unable to do so.
Mina N. Sirkin is a Family Wealth Lawyer in Los Angeles, California. Ms. Sirkin is a Board Certified Specialist Attorney in Estate Planning, Probate and Trust Law by the Board of Legal Specialization of the State Bar of California. [email protected]. http://www.SirkinLaw.com
