The Power-of-Attorney: The Single Most I...

Many estate planning and elder law attorneys will tell you that the Power-of-Attorney is an absolute must have in order to effectuate a sound and complete estate plan. A power-of-attorney is a legal instrument created by an individual (known as the “principal”) that authorizes a person (known as the “attorney-in-fact”) to act on the principal’s behalf regarding his or her financial affairs. The attorney-in-fact has a fiduciary duty to act honestly, loyally and in the best interest of the principal at all times. This inexpensive document can be set up to take...