Choosing the agent or attorney-in-fact for your durable power of attorney is perhaps one of the most important decisions you can make. Here are some things you should consider.
- They need to meet the legal requirements in your state
- They must be ready, willing, and able to act on your behalf and in your best interest
- Your agent must be able to act in your best interest, not in their best interest
- This person should be someone you trust to manage your financial, legal, and personal decisions
- For healthcare, they should know your choices and wishes
- Knows what is important to you
This is a very important decisions. It doesn’t have to be your oldest child because they are oldest. Everybody has strengths, and you should use those strengths. If your youngest is a financial advisor and your oldest a nurse, then perhaps the youngest should be in charge of finances and the nurse in charge of healthcare.
You have 2 choices – plan or don’t plan.
Without a plan, you lose control to state law and a Judge.
With a plan, you stay in control.