Google
Financial Planning Information
Estate Planning
Introduction to Wills
Revocable Trusts
Power-of-Attorney
Living Wills, Health Care Proxies, and Advance Health Care Directives
The Probate Process
Planning With Retirement Benefits
Guidelines for Individual Executors and Trustees

The Lawyer's Role

Tax Changes From 2001
Banking with ING Direct

State Laws Vary

Beyond the ability to make gifts on your behalf, many aspects of a Power of Attorney are governed by state law. Generally, the law of the state in which you reside at the time you sign a Power of Attorney will govern the powers and actions of the agent(s) under that document.

What if I move?

Generally, a Power of Attorney that is valid when you sign it will remain valid even if you change your state of residence. Although it should not be necessary to sign a new Power of Attorney merely because you have moved to a new state, it is a good idea to take the opportunity to update your Power of Attorney.

Will my Power of Attorney expire?

Some states used to require renewal of Powers of Attorney for continuing validity. Today, most states permit a "durable" Power of Attorney that remains valid once signed until you die or revoke the document. However, you should periodically meet with your lawyer to revisit a Power of Attorney and consider whether your choice of agent still meets your needs and learn whether developments in state law affect your Power of Attorney.

 

Financial Planning FAQs
Estate Planning
Children's Investment
Retirement Planning
Charity Planning
Life Insurance
Debt Management
Related Questions & Answers

Power-of-Attorney

» Introduction

» Who Should Be Your Agent?

» How The Agent Should Sign?

» Beyond Signing Checks

State Laws Vary

» What if I move?

» Will my Power of Attorney expire?

Copyright © 2005 WealthPlan101