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Tool Talk Discussion Board

Re: OT:John T, Estate, guardianship, POA? kinda long


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Posted by John T on December 16, 2013 at 14:51:02 from (216.249.76.176):

In Reply to: OT:John T, Estate, guardianship, POA? kinda long posted by redtom on December 16, 2013 at 06:42:11:

Hey Tom, as you seem well aware, NOT having the Trust in front of me nor researching your states laws, myself or any professional, let alone Billy Bob, can NOT know or advise you about it as we don't know what it says about what responsibilities, powers and duties you have or do not have, nor do we know if the trust is funded and if so what are its assets, and if the grantors retained any powers (or its all you) or if you're current or successor trustees or if its revocable or non revocable.

WHEW Attorneys love disclaimers lol However, that being said.

I always prepare SEPERATE Health POA's and Financial POA's. A POA has to be executed while the grantors are still competent, otherwise you need a much more expensive Guardianship, so that needs done ASAP. Then you can make them immediately active or make them springing, in which case they don't take effect until certain
triggers (like incapacity) take place. Also perhaps the trust already grants you certain powers whereby a POA is less necessary??

The healthcare POA would typically grant the person first right about healthcare decisions then if he or she in incapacitated the spouse then down to kids or you etc. Its the Hospital that push for them so they don't get sued when they operate. Its really not your worry but if you care about them and they trust you to make decision if they cant THEN YOU BEST GET ONE ASAP. Same for the financial POA to tie up loose ends the trust may not address.

POA;s arent that hard or expensive or rocket science HOWEVER an attorney needs to know what the trust says before a POA is prepared.

Generally a POA is a strict fiduciary and is prohibited from self dealing or absconding or taking advantage and likewise is a trustee.

If another nephew petitions the court to have them declared incompetent and be named guardian(which can be done) that's expensive but that don't mean the guardian becomes the owner of their property

ENOUGH, no sense in going on, you need to take the trust to an attorney and get advice, theres no way anyone here knows the answer and no sense in me rambling on about the law. Also just because some Billy Bob here was a trustee or POA and he did this or that, SUCH HAS ABSOLUTELY NO BEARING ON YOUR OR YOUR UNCLES CASE.

Sorry, this is way to broad and fact and trust sensitive to help you at all. If I could help I would.

John T Attorney at Law


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