When are My Powers of Attorney Active?

Author

Bellomo & Associates

For more information about the author, click to view their website: Bellomo & Associates

Posted on

Apr 28, 2023

Book/Edition

Pennsylvania - South Central PA

share-this
Share This

Powers of attorney are often drafted differently by different professionals. In our office, we draft our powers of attorney to be effective immediately so that the principal is authorizing the power to be used by their agent now. However, we do not have the agent sign the acknowledgment pages, acknowledging that they are going to act in the best interest of the principal and not steal from the principal and not comingle assets of the principal, and only have them do that at the time when they need to act.

At Bellomo & Associates, we have a document signed by the principal, telling our firm only to give out the originals and to only have the agent sign the acknowledgment when and if the agent actually needs to use them, which would only occur if the principal instructs our firm to give the documents to the agent, or the principal is incapacitated. Yes, we do potentially take on liability because it is up to us to ensure that the agent has not received the documents before they are supposed to, but this is the mechanism that protects the principle that the agent will not have the documents prior to when they actually need them.

Over 20 years of practice I have found that agents always want to do the right thing for the principal and always want to be there for the person that they are acting for. In the cases that I have found that an agent has taken advantage of their power, it almost is always a situation of the agent becoming desperate for one reason or another, and I have always said “Desperate people do desperate things”. It is mainly for this reason that we keep the originals of the documents protected in our office so that the agents do not have them to be subjected to the whims of a desperate situation.

In the event that the agents need or want to use the documents, they will have to sign the acknowledgment pagers prior to using the document. We often receive calls from agents wanting to know why they did not sign the acknowledgments yet, and our answer is that you do not need to act on behalf of the principal yet because he or she is still able and willing to do it themselves.

While there is certainly no perfect answer to the best way to handle this situation, we believe that our solution provides the most effective way to get the document in place, but in such a way that it’s still protected as much as possible until it needs to be used.

It is important that you receive advice from a professional about the best way for you and your family to execute a power of attorney and whether or not the agent should sign the acknowledgments now or only when and if they need to use them.

If you are looking for advice in regard to powers of attorney, please call our office at 717-844-9639 or click the link here and we will contact you.

Other Articles You May Like

A $29 Million Estate, a Forgotten Will, and One Messy Legal BattleHeres What You Can Learn

It sounds like something out of a movie: A wealthy man passes away, leaving behind a historic manor, a million-dollar estate, and two women claiming to be his rightful heir.But this isnt fictionits a real case thats making headlines. And while most of us dont have castles and wine collections to pass on, the lessons from this case apply to everyone.At Bellomo & Associates, we believe estate planning isnt just about moneyits about love, legacy, and protecting the people you care about.The Real-Life Drama UnfoldsJustin Bodle was a successful British TV producer. When he died in 2019, he left behind a fortune worth $29 million. But heres where it gets messy His most recent will, written in 2013, left everything to his estranged wife. Since then, he had a new partner and two additional children but never updated his documents. Now, his partner is fighting for what she believes is fair under inheritance laws, while the wife (also the executor) claims the estate is drained by debts and taxes. Its ugly. And preventable. What Went Wrong?His will didnt reflect his current family life.There was no plan to care for the partner or new children.There wasnt enough liquidity to handle taxes and expenses.The result? A bitter court battle, expensive legal fees, and uncertainty for everyone left behind.What Does This Have to Do with You?Even if you dont own a manor in the English countryside, heres what you can learn:Update your plan after life changes. Divorce, remarriage, new kidsit all matters.Be specific. If you want to provide for a partner or child, spell it out clearly.Dont rely on good intentions. Executors have legal duties, not emotional ones.Think about cash flow. Your loved ones will need money to settle your affairs.Get help from a pro. Estate planning is not a DIY project, especially in blended families.Your Legacy Should Be Love, Not LitigationStories like this make headlines because theyre dramatic, but behind every court battle is a family thats hurting. You can avoid that. Lets build a plan that reflects your real life, real values, and real wishesso your loved ones are taken care of and stay out of court.

Estate Planning in the Western Slope of Colorado: A Vital Step for Seniors and Families

Planning for the future is one of the most important things we can do for our loved onesand ourselves. In the Western Slope of Colorado, estate planning is an essential step for seniors who want to ensure their wishes are respected, their assets are protected, and their families are supported.Whether you're just beginning to explore estate planning or looking to update an existing plan, this guide will help you understand the key components of estate planning and how to access helpful local resources in the Western Slope area. What Is Estate Planning?Estate planning is the process of arranging for the management and distribution of your assets and responsibilities in the event of your death or incapacitation. Its not just for those with large estatesestate planning is a smart and necessary step for anyone who wants to:Protect property and financial assetsEnsure their wishes are followedMinimize family disputesAppoint guardians for dependentsPlan for healthcare decisionsA well-crafted estate plan typically includes documents like a will, trust, durable power of attorney, and advance healthcare directive. Why Estate Planning Matters for SeniorsAs we age, the need for legal and financial clarity becomes increasingly important. Estate planning provides peace of mindnot only for the person making the plan but for their family members as well.In the Western Slope region, where many seniors value independence and community, estate planning is especially helpful in addressing:Long-term care considerationsAsset protection for loved onesTransferring property, land, or family businessesCharitable givingReducing estate taxesBy planning ahead, seniors can avoid unnecessary legal complications and protect the legacy they've worked hard to build. Estate Planning Resources in the Western Slope of ColoradoThe Western Slope encompasses a diverse and vibrant part of Colorado, with strong local support networks for seniors and their families. Estate planning services in this area range from elder law professionals to non-profit legal aid and senior resource centers.Start your search here: Explore Senior Resources in the Western Slope Browse Estate Planning Services in the Western SlopeBe sure to look for services that offer:Experience working with seniorsCompassionate, clear communicationTransparent pricing or sliding-scale feesEducational workshops or free consultations Key Components of a Strong Estate PlanIf you're working with a legal professional or starting a DIY plan, make sure to include these essential pieces:Will: Outlines how your property should be distributed and who will serve as guardian for any dependents.Trust: Helps manage and distribute assets while potentially avoiding probate.Durable Power of Attorney: Authorizes someone to manage your finances if you're unable to do so.Advance Healthcare Directive: Specifies your medical care preferences and names someone to make decisions on your behalf if necessary.Beneficiary Designations: Ensures your life insurance, retirement accounts, and other policies are up to date.Even small updateslike changing a beneficiary or updating an addresscan make a big difference when the time comes. Local Insight: Estate Planning in Rural and Mountain CommunitiesOne of the unique aspects of estate planning in the Western Slope is the variety of property types and lifestyles. Many residents own land, ranches, or vacation homes, which require special attention in estate documents. Its also common for families to live in multi-generational households or have long-standing ties to their community.Working with a professional who understands the local context and real estate laws in Colorado is important for ensuring your estate plan is legally sound and culturally sensitive. Final ThoughtsEstate planning isnt just about preparing for the endits about creating a legacy, protecting your loved ones, and maintaining control over the decisions that matter most to you. If youre ready to begin or revisit your estate planning journey, the Western Slope offers trusted professionals and community resources to support you along the way. Taking action now can ease the burden on your family and give you confidence about the future.

Estate Planning in Utah: Why Its Essential for Seniors and Their Families

Planning for the future isnt always easybut for seniors in Utah, estate planning offers peace of mind, protects assets, and ensures your wishes are honored. Whether you live in Salt Lake City, St. George, or Provo, having a thoughtful estate plan is one of the most important steps you can take to safeguard your legacy.In this guide, well break down the essentials of estate planning in Utah, explain why its so critical for seniors, and share trusted local resources that can help. What Is Estate Planning?Estate planning is the process of legally documenting your wishes for how your assetssuch as property, investments, savings, and personal belongingswill be managed and distributed after your death or in the event you become incapacitated. A comprehensive estate plan may include:A willA revocable living trustPowers of attorney (medical and financial)An advance healthcare directiveGuardianship designations (if applicable)In Utah, estate planning can also help your family avoid probate court, reduce estate taxes, and prevent disputes that could arise without clear legal guidance. Why Estate Planning Matters for Seniors in UtahUtah is home to a growing senior population who value independence, family, and financial security. Heres why estate planning should be a priority:1. Protect Your Loved OnesWithout an estate plan, the courts will determine how your assets are divided. This often leads to confusion or conflict among family members. Having a plan in place ensures your intentions are followed.2. Avoid Probate DelaysProbate can be a lengthy and costly process in Utah. Tools like living trusts help avoid probate and allow for a faster, smoother transfer of assets to your beneficiaries.3. Plan for IncapacityAn estate plan isnt just about what happens after you passits also about who will make decisions for you if you're unable to. Assigning a trusted medical and financial power of attorney ensures your wishes are respected during a medical crisis.4. Support Charitable CausesMany Utah seniors wish to leave a legacy by supporting local causes. Through estate planning, you can designate charitable organizations to receive a portion of your estate, ensuring your values live on. Utah-Specific Considerations for Estate PlanningUtah estate law has unique aspects that seniors and families should understand:Spousal Elective Share: Utah law ensures that a surviving spouse receives a share of the estateeven if not explicitly mentioned in the will.Simplified Probate for Small Estates: Utah allows for a simplified probate process for estates valued under a certain threshold.Digital Assets: Utah law includes provisions for managing digital assets (like online accounts) as part of your estate.Its important to work with professionals familiar with Utah laws to ensure your estate plan is legally sound. Trusted Estate Planning Resources in UtahFinding the right professionals and support is essential for successful estate planning. SeniorsBlueBook.com offers a curated directory of trusted senior resources in Utah, including those who can assist with legal, financial, and end-of-life planning needs.You can also explore this specific category to find Estate Planning and Elder Law specialists in Utah who understand the unique needs of aging adults and their families. Start Your Estate Planning Journey TodayIts never too earlyor too lateto begin planning for your future. Whether youre updating an old will or creating a comprehensive estate plan from scratch, taking the first step ensures that your wishes are documented and your loved ones are supported. Remember, estate planning is more than a legal task. Its a gift to your family, a declaration of your values, and a way to take control of your future.

Local Services By This Author

Bellomo & Associates

Estate Planning 3198 E Market St, York, Pennsylvania, 17402

We Educate so what happened to the Bellomo Family doesn't happen to yours!Our firms mission is to ensure that you and your family never needlessly, painfully suffer. Every team member has a personal story that has brought us here to advocate for you and your family. We want to replace your burden with peace of mind. We have the answers, but more important, we have your back.Bellomo & Associates, LLC advises Individuals and families, business owners, senior citizens, and their families about the estate planning and elder law challenges facing them today. For seniors and their families facing the issues of aging, or for those of any age who wish to protect their familys financial future, we counsel clients and provide solutions on Asset Protection; Specials Needs Trusts; Wills; Trust Design; Medicaid; Estate Planning; Nursing Home Matters; and Estate Administration. For our clients who own businesses, our team assists them with succession planning for their business in conjunction with their estate planning.  We have office locations in York, PA, and Lancaster, PA.We offer FREE workshops!  Our workshops are fun and entertaining ways to learn! We provide you with the information to decide what is right for you. If after attending, you decide we arent the right fit no problem! Youll never feel any pressure from our team.