March 14, 2016

You should never underestimate the impact that selecting a person to serve as your power of attorney agent could have. This person may play a significant role in your life down the line, so it’s essential to think carefully before making this decision. 

The following tips might help you make this decision. Having all the facts gives you the best chance to make an informed choice.

• Most people consider or select a family member to act on your behalf. Make sure that if you name more than one person in this role that not all may be available to make decisions at the same time. This same group of people might not agree, either, which is why it’s strongly recommended you name one person and a contingent agent.
• Before designating co-agents, think about whether issues involving full availability and agreement could impair prompt and effective decision0mkaing
• Name a successor in the event that the original agent is unable to act when called upon
• Make sure the individual you select is aware of your decision and is someone you can trust. Since this person may be making decisions on your behalf, you should feel completely confident about his or her ability to carry out decisions with your needs in mind. This person should also be accepting of the authority offered by a power of attorney role. Some individuals may be uncomfortable with serving in this manner, so make sure that you act first.
• Update your POA designation if your feelings change or if the original person is no longer able to fulfill this role. A POA is only valuable if kept current.

To learn more about New Jersey estate planning, contact our firm today at info@lawesq.net.