Using power of attorney as part of Missouri estate planning

Granting a third-party power of attorney enables that party to make decisions on an individual’s behalf. In most cases, including an individual’s decision to move to another state, this power of attorney is valid. However, it may be possible that the nuances of one state’s estate planning laws are different than the ones in the state where an individual previously lived. Therefore, it may be worthwhile to review such a plan after making a move to another state.

A power of attorney does not have to expire if the person who creates it does not want it to expire. In the past, a power of attorney expired periodically to ensure that it still met the wishes of whoever granted that right. Now, the power of attorney is considered to be durable. This means that the power of attorney does not expire due to any legal statute.

An individual may be able to stipulate when such powers expire by writing language into documents granting others power of attorney. It may also be possible to change a durable power of attorney to one that expires by changing its terms. In any event, it may be worthwhile to periodically review any existing power of attorney documents to ensure that they reflect the wishes of the person who granted them.

Those wishing to grant powers of attorney to another party for any reason may wish to seek out an attorney familiar with estate planning. An attorney may be able to create, organize and store documents pertaining to an estate plan. This may allow options to create a thorough estate plan that can be executed properly. Having documents organized and properly notarized may decrease the odds of a legal challenge to such an agreement.


POSTED IN: Power of Attorney