Can A Will Be Changed With A Power of Attorney?

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A Power of Attorney is an important legal document that allows someone of your choosing to make decisions on your behalf if you should ever become unable to do so yourself. The type of decisions can be financial, health care related, regarding your business affairs, and more. But could someone with power of Attorney change your will? If you need legal advice regarding your estate planning or wish to have your estate planning documents - including power of attorney, living will, last will and testament, or a trust - created for you, members of our Legal Protection Subscription Plans for Individuals & Families can get these important documents created at no additional fee. Learn more about this benefit and read on for a brief overview of Power of Attorney.

When you are creating your estate planning documents, you have the option of creating a Power of Attorney. This is a document that gives someone you choose the authority to make decisions for you if you should become incapacitated or otherwise unable to make those decisions yourself. The person you choose is known as your "agent" or "attorney-in-fact," and you can give this person as much or as little power as you choose. You can give them authority over just your finances or just medical decisions, or both.

A Power of Attorney can be either "durable" or "non-durable," and the difference comes down to when your agent has power of attorney. A durable POA stays in effect if you become incapacitated while a non-durable POA is only valid while you're competent. A "Springing" power of attorney only becomes valid upon your inability to make decisions for yourself, for example, if you are incapacitated or gravely ill.

Your will is a very important document, as it makes your wishes known before you are sick or pass away, and directs what happens to your assets after you die. A Living Will - also called an Advanced Directive - allows you to make decisions about your end-of-life care in advance, in case you are unable to do so later.

You need a will created to take care of family, children, loved ones, pets, and assets when you pass away, and a Power of Attorney is an important position that gives someone power to make decisions for you while you are still alive, whereas a will only becomes valid after you die.

One question people often have is whether or not a person with power of Attorney can make changes to a will, and the short answer is no. However, a person with Power of Attorney can still affect an Estate plan, in that someone with financial Power of Attorney will have the ability to make financial decisions, such as managing bank accounts, paying bills, managing investments, and attending to debts.

Importantly, Power of Attorney is revocable, which means that you can cancel or change it at any time, and you should consider updating your Power of Attorney on a regular basis so that it reflects your current wishes and/or circumstances. Examples might be if your marital status changes or the person you've appointed as your agent passes away or moves far away.

Getting advice from an experienced, qualified estate planning attorney is always a great idea when you're thinking about any Power of Attorney, as you will be better able to understand the law, protect your rights, and make sure that all your documents are in order. An estate planning attorney can help you with any questions you might have about your Power of Attorney as well as help you prepare and create your comprehensive estate plan that will address your unique situation and goals. Learn more about getting your will completed at no additional charge when you're a member of our Legal Protection Subscription Plans, or sign up today!