What Authority Can I Give My Agent?

What Authority Can I Give My Agent?

It is important that your power of attorney clearly identify what matters your agent can handle for you (this is called the agent’s scope of authority).  Your agent has the power to bind you on matters with the scope of his or her authority just as if you had done the act yourself.  If you a have a question about what authority you have given to your agent, or if you want to change that authority, contact Thomas T. Tornow, P.C. at http://www.tornowlaw.com.

Your power of attorney can give your agent the authority to do almost everything you can do, including:

            · paying your bills;

· dealing with your real estate, tangible personal property, investments, insurance, annuities, estates, trusts, and beneficial interests; 

· signing, performing, rescinding, canceling, reforming or modifying contracts;

· preparing, executing, acknowledging, filing and recording instruments and communications for you;

            · dealing with your banks and other financial institutions;

            · filing and settling claims and lawsuits for you;

            · preparing your tax returns and paying your taxes;

            · handling your retirement plan and government, military or civil benefits;

            · paying family maintenance;

            · arranging your home care;

· creating a schedule listing some or all of your property and attaching it to your power of attorney;

· communicating with and seeking assistance from any court or government agency;

· hiring, paying and firing your attorney, accountant, investment manager, expert witness or other advisor;

· accessing communications to you and communicate for you; and

            · doing any other lawful act on your behalf.

Contact Thomas T. Tornow, P.C. at http://www.tornowlaw.com to be sure your power of attorney clearly identifies you agent’s authority.

Unless your power of attorney provides otherwise, your agent has authority over your property anywhere in the United States, regardless of when it was acquired.  If you have questions about your agent’s authority over your property, contact Thomas T. Tornow, P.C. at http://www.tornowlaw.com.

Your power of attorney can also limit your agent’s authority.  A common limit is that your agent can act for you only if you are no longer able to do so.  Not being able to act for yourself is called being incapacitated.  What qualifies as being incapacitated, who can make that determination, and the consequences are discussed in a later post.  Contact Thomas T. Tornow, P.C. at http://www.tornowlaw.com if you want to limit your agent's authority.

If you give your agent limited authority, your agent can only do the things described in your power of attorney.  Ambiguities in your power of attorney are construed against you and in favor of your agent or those dealing with your agent.  Contact Thomas T. Tornow, P.C. at http://www.tornowlaw.com if you have questions about the limitations on your agent’s authority.

Unless your power of attorney specifically says otherwise, your agent cannot usually:

• transfer your power of attorney to another person;

• give another person a power of attorney to act for you;

• create, amend, revoke or terminate your living trust;

• make a gift for in your name;

           

• create or change your right of survivorship or beneficiary designation;

• waive your rights as the beneficiary of a joint or survivor annuity or retirement plan;

• disclaim any property, including a power of appointment;

• transfer your property to him or herself or someone (s)he has a duty to support unless your agent is your spouse, decedent (e.g. child) or ancestor (e.g. parent); or

• make health care decisions for you. 

If you want your agent to be able to do any of these things, contact Thomas T. Tornow, P.C. at http://www.tornowlaw.com.

Regardless of what your power of attorney says, your agent cannot make your Last Will and Testament, represent you in court (unless your agent is a lawyer), or deal you’re your Social Security benefit.  Contact Thomas T. Tornow, P.C. at http://www.tornowlaw.com if you want help with these matters.

Your power of attorney can require your agent to have the consent of your other agents.  Otherwise, your agents can act independently for you without the knowledge or consent of your other agents.  If your agents or co-agents have overlapping authority, you should consider the consequences if they disagree and provide a clear method in the power of attorney for how such disagreements will be resolved.  For example, if you give each of your children a power of attorney, or name more than one child as co-agents, with the same or overlapping authority, you should provide for how that decision will be made if the children disagree.  Otherwise, the disagreement may generate a family feud and law suits.  Contact Thomas T. Tornow, P.C. at http://www.tornowlaw.com for suggestions on how to prevent disagreements between your agents.

Thomas T. Tornow, P.C.

By: Thomas T. Tornow

This post is exclusively for informational purposes. It is not legal advice. Viewing this post, using information from it, or communicating through this blog does not create an attorney-client relationship. Thomas T. Tornow, P.C. is not liable for the use or interpretation of information on this blog and expressly disclaims all liability for any actions you may or may not take based on the content of this blog.