A Power of Attorney is an important estate planning tool that allows a person, referred to as the “Principal,” to designate another individual to act as an “Agent” on their behalf for financial and other matters without involving the probate court. The Principal can still act on their own behalf, and at the same time the Agent can act on the Principal's behalf as well. Having a well-drafted Power of Attorney can avoid the need to have a Conservator appointed by the Probate Court if someone becomes legally incapacitated.
A recent Connecticut law, the Uniform Power of Attorney Act (the “Act”), went into effect on October 1, 2016, bringing many needed updates from the previous law. Powers of Attorney Executed Prior to October 1, 2016 remain valid and in effect under the new Act. However, it may be highly beneficial for you execute an updated Power of Attorney to take advantage of the Act’s new features and expanded authority.
Call us today to review your old Power of Attorney or assist you in preparing updated documents.