Since the courts do not regulate powers of attorney other than what it is in the actual document, the powers may be misused by an attorney-in-fact. As a principal you must carefully choose the powers you are going to give to your agent.
You have to decide one or more of the following tasks that your attorney-in-fact will carry out on your behalf from time to time:
There are two paths when deciding how much authority you are going to allow your agent.
With such type of power of attorney, a principal can prepare for certain situations without giving full authority to his or her agent. In this type of document the agent lists the explicit authority they give their agent. Your choice depends on what aspects of your life need overseen when you are not able to make decisions for yourself.
The agent enjoys the same amount of privileges and access to the assets of the principal as they would themselves. The agent, for example, can decide where your money and investments will go as well as the kind of nursing home where you will stay.
Mr. Abraham is an experienced attorney and founding member of the Law Firm of Abraham & Bauer. The Towson, MD office of the firm concentrates its practice in Estate Planning, Elder Law, Probate, Medical Assistance (Medicaid), Guardianship, Asset Preservation and Fiduciary Representation.
He is an active member in a number of professional organizations that focus on law, the senior community, and estate planning. He works with clients in Central Maryland, especially in Towson, Hunt Valley, Lutherville/Timonium, Parkville, White Marsh, Bel Air & Northern Baltimore City.
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