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Why Your Power of Attorney for Finances Document Dies With You


Attorney Thomas B. Burton explains why your Agent's authority to act under your Financial Power of Attorney document ends at your death.

For help with your estate planning, click here to obtain my Free One Page Will vs. Trust Estate Planning Guide. For questions, please contact my office.


Transcript of Video: Why Your Financial Power of Attorney Document Dies With You

Today's question has to do with the

power of attorney for finances document

and why does it end after the person who

made the power of attorney dies

this is often a confusing subject we

talk about using a power of attorney for

finances during your lifetime to help

avoid the need for a guardianship if

you're incapacitated and unable to act you can name someone else to manage your

financial affairs while you recover and

get to good health however that

financial power of attorney is only

effective while you are alive

upon your death the power of attorney

under that document dies with you after

your death the person who takes over is

the personal representative under your

will the or the trustee named under your trust

so for instance if your daughter is

paying your bills while your alive under

the financial power of attorney and then

you die she no longer has the power to

pay your bills after your death even

though some of those bills were possibly

accrued while you were alive if she's

the personal representative she must

wait until she's appointed by the court

and files the will with the court and

gets the necessary letters to act as

personal representative if however you

formed a trust and your daughter was

named as trustee she should have the

authority to act while you're

incapacitated and the power should

continue to flow seamlessly after your death

until your trust and estate is

administered and wrapped up for this

reason a revocable living trust is often a

nice document because there isn't that

period where the power of attorney ends

at death and your child or person you

name has to wait to get appointed by the

court this is often confusing so just

remember a power of attorney is

effective while you're alive and it dies

with you when you die. Great question and thanks for asking.

© 2018 Law Office of Thomas B. Burton. All Rights Reserved.

Transcript and captions provided for ease of access for the hearing impaired.

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