Power of Attorney Considerations

Giving someone a power of attorney over your affairs is a very serious decision that should not be taken lightly. You may wish to consider the following:

1. Do I trust this person with the powers I give them?

When you think about all of the powers that a person has when granting a power of attorney over the affairs of someone else, it can be quite scary. In the eyes of the law, you are effectively giving someone the power to do almost everything you can do yourself. This person would be able to open and close bank accounts on your behalf. They would be able to withdraw money from your bank accounts. They would be able to sell your property without notifying you of it first. These are all things you should consider when giving someone a power of attorney texas. Most people would not feel comfortable giving someone control of their bank account or investments if that person has a history of theft or poor money management. These are just some of the things you should consider in regard to the person to whom you give these powers to.

2. Should this person be given a general or specific power of attorney?

Should this person really have control over everything or only just act on your behalf in certain circumstances? This may be something you should discuss with your estate planning attorney to determine what would be in your best interest.