5 Tips for Creating an Efficient Power of Attorney

 July 20, 2023

By  Elle Gellrich

Are you worried about what might happen to your estate and investments if you become disabled or incapacitated? Fret not. A power of attorney (POA) can help you select an agent to make financial decisions in the event of an unfortunate event. This legal document will help avoid conservatorship, guardianship, and other related court proceedings. However, for efficiency, you must be careful when creating the POA. Here are the tips to help you through the process.

1. Understand the Different Types 

First, it is best to understand the different types of legal documents. Doing so is essential because there are printable copies of free power of attorney Pennsylvania online, and the platforms offering them have different types. Such platforms have the general POA, which gives your agent broad authority, and a durable POA that remains effective even after you are incapacitated. Other types available include Healthcare POA, Power POA, Minor Child POA, and Tax Power POA.

2. Select a Trustworthy Agent

It’s best to select a trustworthy agency when creating your POA. Doing so is essential because the agent will make major financial decisions on your behalf. While at it, you will consider the agent’s character. Your agent should be someone you trust, and you are certain of their honesty. They should also be competent, familiar with financial matters and related topics. A suitable agent should also be available, meaning you should choose someone close to you. This will make them efficient when the time to decide on your behalf comes.

3. Share all the Relevant Information with Your Agent 

While creating the POA, ensure that you share all the relevant information. For example, you should disclose financial information like bank accounts, investments, and debts you owe. Sharing your medical information and history would also be best. While at it, share your care wishes and what should happen upon your demise. This should include the date you created and signed the document, contact information, and the effective date. Doing so will help ensure the agent makes an informed decision when the time comes.

4. Consider a Successor Agent

People change, and that can happen to your first-choice agent. Besides, they can relocate, making it difficult to make decisions from afar. That’s why you should have a successor agent who will step in. While choosing one, you should consider the factors you did when selecting the first-choice agent. Suppose you don’t have one; you should specify in the POA how your successor agent will be chosen when you are disabled or incapacitated. Failure to do so can invalidate the POA if your agent is unable or unwilling to serve.

5. Consult a Professional 

You should consult a professional before downloading a free power of attorney in Pennsylvania and filling it out. Professionals who can help you with the process include general practice attorneys, estate planning attorneys, elder law attorneys, and trust or trustee attorneys. These professionals will guide you, ensuring the document is clear and legally binding. They do so through customization and updating when necessary.

Being disabled or incapacitated can create a challenge when making a financial decision. This worsens if you don’t have a POA. Therefore, ensure you download the most suitable printable copy and use the tips you have read here to create one. Doing so will help avoid lengthy court proceedings in the future.

Elle Gellrich


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