Power of attorney can be valuable and dangerous tool
By Sandra Block
December 9, 2008
The power-of-attorney document is a powerful estate-planning tool that can be used to protect your interests if you become incapacitated.
But in the hands of someone who is dishonest or desperate, it can also create a powerful incentive to steal, advocates for the elderly say.
Some tips:
• Understand what you're giving away.
• Choose your agent carefully.
• Once you've selected an agent, consider establishing some kind of oversight.
• onsider getting legal advice
• Understand that your power-of-attorney document can be changed.
Abridged
SOURCE: USA Today
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