From our “Ask a Question” Mailbag: Power of Attorney Storage and Safekeeping in Delaware County
Most Recently Updated July 13, 2018
“I have signed a General Power of Attorney giving my daughter the power to act for me, but I don’t want her to have it yet. I only want her to have it when (and if) I become unable to care for myself. Should I keep it in my safe deposit box? We both live in Delaware County, so she is close by.”
Power of Attorney Storage and Safekeeping in Delaware County
The problem with putting your General Power of Attorney in your safe deposit box is, if you become incapacitated, your daughter will likely be unable to get into the box. If you have died, there is a process to open the box… but it is much more complex if you are alive, but incapacitated.
You could put her name on the box, but that runs contrary to your wish. If her name is on the box, she can get to the General Power of Attorney at any time. This is a common problem.
What We Do
Our answer is to allow our clients to keep their Durable Powers of Attorney in our Will safes, free of charge. We would have you sign a document stating that you only want us to release your Power of Attorney to your daughter if you have become incapacitated.
If your daughter comes to our office to obtain your Power of Attorney, we would then ask your location and how to contact you. Normally, the Agent directs us to a hospital where we can confirm that the client has become incapacitated.
What if we learn that you are NOT incapacitated?
We then release the Power of Attorney and the Agent is then free to use it to care for the client. BUT, every so often we find out that our client is, in fact, not incapacitated. In those cases, the Power of Attorney was kept out of the hands of an Agent who might have otherwise used the Power of Attorney to embezzle or steal from our client.
If you would like to store your Power of Attorney with us, please feel free to contact me.
More Planning Questions?
Power of Attorney Storage and Safekeeping in Delaware County is only a piece of the Estate Planning process. By all means, if you want to learn more, please read my more detailed article, Estate Planning Everything You Need to Know.
In Conclusion: Power of Attorney Storage and Safekeeping in Delaware County
I hope that this article was helpful in explaining the importance of safekeeping a power of attorney. Further, I included links to even more detailed information on my website so you can learn more. Therefore, please contact me and let me know how I did. Certainly, your comments and questions are welcome!
Let our Estate Planning lawyers help walk you through what can be a confusing process. To begin with, call to speak to one of our experienced estate planning lawyers. By all means, our lawyers are ready to answer your questions. In fact, feel free to contact our office for a free consultation. Ultimately our goal is to make the process as painless as possible!
Wills, Trusts, Probate, and Estate Litigation, It’s All We Do!