When Should I Update My Power of Attorney?

Many of the same events that would prompt you to update your estate planning documents like a will should cause you to reconsider whether or not your power of attorney still makes sense.

This can include recently having gotten married and wanting to designate your spouse as your agent, getting separated or divorced from your current spouse, a child or other family member who is grown in maturity and has shown they want the responsibility of serving in this role or there are updates in your state laws that impact your current POA document.

Another common reason to consider making changes to your power of attorney are problems with your agent. A person you appointed months or years ago might not be the most appropriate choice going forward. For example, if your appointed agent is deceased or otherwise incapable of handling the responsibility, is under investigation for a crime or is in jail, if you’ve had a falling out with your agent or if you no longer trust in your power of attorney agent’s abilities to handle your medical decisions or financial decisions, you will want to discuss with your estate planning lawyer who should instead be appointed in a power of attorney document.

These questions are not always easy to answer and require careful consideration from a thoughtful lawyer who has been there before and has helped many other clients navigate this situation. Set up a consultation today to discuss whether your existing power of attorney document accomplishes your goals.

If you need support with any aspect of Maine or NH estate planning, we’re here to guide you.

 

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