{"id":2895,"date":"2023-05-15T09:43:09","date_gmt":"2023-05-15T09:43:09","guid":{"rendered":"https:\/\/alcleanscarpet.site\/Weatherby\/2023\/05\/15\/power-of-attorney-for-estate-planning\/"},"modified":"2023-06-06T13:21:57","modified_gmt":"2023-06-06T13:21:57","slug":"power-of-attorney-for-estate-planning","status":"publish","type":"post","link":"https:\/\/alcleanscarpet.site\/Weatherby\/power-of-attorney-for-estate-planning\/","title":{"rendered":"Power of Attorney for Estate Planning"},"content":{"rendered":"<p><a href=\"http:\/\/weatherby-associates.com\/wp-content\/uploads\/2016\/10\/pexels-photo-70292.jpeg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-1726 size-thumbnail\" src=\"https:\/\/alcleanscarpet.site\/Weatherby\/wp-content\/uploads\/2016\/10\/pexels-photo-70292.jpeg\" alt=\"Power of Attorney for Estate Planning\" width=\"150\" height=\"150\" \/><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Banks Refuse to Honor a Durable Power of Attorney Because of a Small Name Problem<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A Durable Power of Attorney (\u201cPOA\u201d) can be a useful tool in estate planning. \u00a0In a POA, a person termed the \u201cprincipal\u201d gives legal authority to a different person, termed the \u201cagent,\u201d to take certain actions on the principal\u2019s behalf. \u00a0But it is never wise to rely solely on that type of document. \u00a0That is because there are many different reasons banks and other financial institutions may refuse to recognize a POA. \u00a0An August 2014 New York Times article described the plight of a 62 year old woman who discovered firsthand how a minor glitch in a POA can turn into a big problem for the family of a loved one. \u00a0See \u201c<\/span><i><span style=\"font-weight: 400;\">Power of Attorney is not Always a Solution<\/span><\/i><span style=\"font-weight: 400;\">.\u201d \u00a0New York Times, August 22, 2014.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When Christine\u2019s parents died, she and her siblings had a lot of difficulties settling their estates. \u00a0As a result of those problems, Christine\u2019s older brother assured her and their siblings that he would make sure to put all of his affairs in proper order so they would not have to deal with such problems when he died. \u00a0Christine\u2019s brother went to an experienced lawyer who drafted a will and a health care power of attorney and he added transfer on death provisions to certain accounts. \u00a0Her brother also executed a POA naming Christine to act as his agent. \u00a0So it seemed to Christine that her brother had taken care of everything.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Suddenly, several years later, everything changed. \u00a0In 2010 Christine received a call from a hospital in Greenwich informing her that her brother was suffering from severe dementia. \u00a0Christine\u2019s brother had done well financially, so there certainly were ample funds to take care of him. \u00a0She sprang into action and headed to the first of many banks he used, armed with the POA. \u00a0It was at that point she realized that in her brother\u2019s POA, he had referred to her as \u201cCarol,\u201d not \u201cChristine.\u201d \u00a0Carol was her first name in childhood but she had not used that name in decades. \u00a0She thought that such a minor error in the document would not pose much a problem. \u00a0Unfortunately, she thought wrong. \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bank after bank refused to let her act. They all took the position that the POA was invalid since it did not match the name she used. \u00a0The banks told her to present her marriage certificate, and then her birth certificate, her passport, and her driver\u2019s license. \u00a0Yet none of those documents matched the exact name the way her brother had listed her on his POA. \u00a0Eventually, Christine did manage to move some of her brother\u2019s assets. \u00a0But that was at a cost of countless hours lost from her work and family and lots of undue stress. \u00a0Christine explained ruefully \u201cI tell everyone the good news is he has lots of money; the bad news is he had it in 25 different accounts.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If Christine\u2019s brother had created and funded a trust, her problems could have been avoided. \u00a0A trust is created and funded when the Trustmaker is healthy and fully competent. \u00a0In contrast, a bank may never see a POA until a point in time when the principal is no longer competent. \u00a0POAs can certainly be abused by individuals committing elder fraud, and banks have been sued before for honoring a POA that turns out to be improper. \u00a0As a result banks have become more and more difficult to deal with when it comes to POAs.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the planning work we do for our clients, we almost always include a POA. \u00a0But that is never the centerpiece of the plan. \u00a0Rather, the primary emphasis of the plan will usually be a well drafted trust to hold title to most, if not all, of the client\u2019s assets. \u00a0The POA is there \u201cjust in case\u201d it is ever needed in some way. \u00a0And more often than not, it is never needed because of the other more important elements of the plan.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">If you have any questions about the issues presented above or care to discuss any other planning issues, please call us at 860-769-6938, visit our website at <\/span><a href=\"http:\/\/www.weatherby-associates.com\"><span style=\"font-weight: 400;\">http:\/\/www.weatherby-associates.com<\/span><\/a><span style=\"font-weight: 400;\"> or email us at <\/span><a href=\"mailto:info@weatherby-associates.com\"><span style=\"font-weight: 400;\">info@weatherby-associates.com<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/h2>\n<h1>Power of Attorney for Estate Planning<\/h1>\n<p>https:\/\/weatherby-associates.com\/power-attorney-estate-planning<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Banks Refuse to Honor a Durable Power of Attorney Because of a Small Name Problem A Durable Power of Attorney (\u201cPOA\u201d) can be a useful tool in estate planning. \u00a0In [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2895","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Power of Attorney for Estate Planning | Weatherby &amp; Associates, PC<\/title>\n<meta name=\"description\" content=\"Weatherby-Associates provides legal representation for Estate Planning. Having Power of Attorney for Estate Planning can be important step.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/alcleanscarpet.site\/Weatherby\/power-of-attorney-for-estate-planning\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Power of Attorney for Estate Planning | Weatherby &amp; Associates, PC\" \/>\n<meta property=\"og:description\" content=\"Weatherby-Associates provides legal representation for Estate Planning. Having Power of Attorney for Estate Planning can be important step.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/alcleanscarpet.site\/Weatherby\/power-of-attorney-for-estate-planning\/\" \/>\n<meta property=\"og:site_name\" content=\"Weatherby Website\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-15T09:43:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-06T13:21:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/alcleanscarpet.site\/Weatherby\/wp-content\/uploads\/2016\/10\/pexels-photo-70292.jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/power-of-attorney-for-estate-planning\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/power-of-attorney-for-estate-planning\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/#\\\/schema\\\/person\\\/30db443038bd3749d4a9df1d359b451a\"},\"headline\":\"Power of Attorney for Estate Planning\",\"datePublished\":\"2023-05-15T09:43:09+00:00\",\"dateModified\":\"2023-06-06T13:21:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/power-of-attorney-for-estate-planning\\\/\"},\"wordCount\":730,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/power-of-attorney-for-estate-planning\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/wp-content\\\/uploads\\\/2016\\\/10\\\/pexels-photo-70292.jpeg\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/power-of-attorney-for-estate-planning\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/power-of-attorney-for-estate-planning\\\/\",\"url\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/power-of-attorney-for-estate-planning\\\/\",\"name\":\"Power of Attorney for Estate Planning | Weatherby & Associates, PC\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/power-of-attorney-for-estate-planning\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/power-of-attorney-for-estate-planning\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/wp-content\\\/uploads\\\/2016\\\/10\\\/pexels-photo-70292.jpeg\",\"datePublished\":\"2023-05-15T09:43:09+00:00\",\"dateModified\":\"2023-06-06T13:21:57+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/#\\\/schema\\\/person\\\/30db443038bd3749d4a9df1d359b451a\"},\"description\":\"Weatherby-Associates provides legal representation for Estate Planning. Having Power of Attorney for Estate Planning can be important step.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/power-of-attorney-for-estate-planning\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/power-of-attorney-for-estate-planning\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/power-of-attorney-for-estate-planning\\\/#primaryimage\",\"url\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/wp-content\\\/uploads\\\/2016\\\/10\\\/pexels-photo-70292.jpeg\",\"contentUrl\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/wp-content\\\/uploads\\\/2016\\\/10\\\/pexels-photo-70292.jpeg\",\"width\":1280,\"height\":855},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/power-of-attorney-for-estate-planning\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Power of Attorney for Estate Planning\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/#website\",\"url\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/\",\"name\":\"Weatherby Website\",\"description\":\"My Weatherby Website\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/#\\\/schema\\\/person\\\/30db443038bd3749d4a9df1d359b451a\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/109719b14196238d15de64df04c47b299f9b4587d9c8248140fd4222e9dba812?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/109719b14196238d15de64df04c47b299f9b4587d9c8248140fd4222e9dba812?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/109719b14196238d15de64df04c47b299f9b4587d9c8248140fd4222e9dba812?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\"],\"url\":\"https:\\\/\\\/alcleanscarpet.site\\\/Weatherby\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Power of Attorney for Estate Planning | Weatherby & Associates, PC","description":"Weatherby-Associates provides legal representation for Estate Planning. Having Power of Attorney for Estate Planning can be important step.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/alcleanscarpet.site\/Weatherby\/power-of-attorney-for-estate-planning\/","og_locale":"en_US","og_type":"article","og_title":"Power of Attorney for Estate Planning | Weatherby & Associates, PC","og_description":"Weatherby-Associates provides legal representation for Estate Planning. Having Power of Attorney for Estate Planning can be important step.","og_url":"https:\/\/alcleanscarpet.site\/Weatherby\/power-of-attorney-for-estate-planning\/","og_site_name":"Weatherby Website","article_published_time":"2023-05-15T09:43:09+00:00","article_modified_time":"2023-06-06T13:21:57+00:00","og_image":[{"url":"https:\/\/alcleanscarpet.site\/Weatherby\/wp-content\/uploads\/2016\/10\/pexels-photo-70292.jpeg","type":"","width":"","height":""}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/alcleanscarpet.site\/Weatherby\/power-of-attorney-for-estate-planning\/#article","isPartOf":{"@id":"https:\/\/alcleanscarpet.site\/Weatherby\/power-of-attorney-for-estate-planning\/"},"author":{"name":"admin","@id":"https:\/\/alcleanscarpet.site\/Weatherby\/#\/schema\/person\/30db443038bd3749d4a9df1d359b451a"},"headline":"Power of Attorney for Estate Planning","datePublished":"2023-05-15T09:43:09+00:00","dateModified":"2023-06-06T13:21:57+00:00","mainEntityOfPage":{"@id":"https:\/\/alcleanscarpet.site\/Weatherby\/power-of-attorney-for-estate-planning\/"},"wordCount":730,"commentCount":0,"image":{"@id":"https:\/\/alcleanscarpet.site\/Weatherby\/power-of-attorney-for-estate-planning\/#primaryimage"},"thumbnailUrl":"https:\/\/alcleanscarpet.site\/Weatherby\/wp-content\/uploads\/2016\/10\/pexels-photo-70292.jpeg","inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/alcleanscarpet.site\/Weatherby\/power-of-attorney-for-estate-planning\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/alcleanscarpet.site\/Weatherby\/power-of-attorney-for-estate-planning\/","url":"https:\/\/alcleanscarpet.site\/Weatherby\/power-of-attorney-for-estate-planning\/","name":"Power of Attorney for Estate Planning | Weatherby & Associates, PC","isPartOf":{"@id":"https:\/\/alcleanscarpet.site\/Weatherby\/#website"},"primaryImageOfPage":{"@id":"https:\/\/alcleanscarpet.site\/Weatherby\/power-of-attorney-for-estate-planning\/#primaryimage"},"image":{"@id":"https:\/\/alcleanscarpet.site\/Weatherby\/power-of-attorney-for-estate-planning\/#primaryimage"},"thumbnailUrl":"https:\/\/alcleanscarpet.site\/Weatherby\/wp-content\/uploads\/2016\/10\/pexels-photo-70292.jpeg","datePublished":"2023-05-15T09:43:09+00:00","dateModified":"2023-06-06T13:21:57+00:00","author":{"@id":"https:\/\/alcleanscarpet.site\/Weatherby\/#\/schema\/person\/30db443038bd3749d4a9df1d359b451a"},"description":"Weatherby-Associates provides legal representation for Estate Planning. Having Power of Attorney for Estate Planning can be important step.","breadcrumb":{"@id":"https:\/\/alcleanscarpet.site\/Weatherby\/power-of-attorney-for-estate-planning\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/alcleanscarpet.site\/Weatherby\/power-of-attorney-for-estate-planning\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/alcleanscarpet.site\/Weatherby\/power-of-attorney-for-estate-planning\/#primaryimage","url":"https:\/\/alcleanscarpet.site\/Weatherby\/wp-content\/uploads\/2016\/10\/pexels-photo-70292.jpeg","contentUrl":"https:\/\/alcleanscarpet.site\/Weatherby\/wp-content\/uploads\/2016\/10\/pexels-photo-70292.jpeg","width":1280,"height":855},{"@type":"BreadcrumbList","@id":"https:\/\/alcleanscarpet.site\/Weatherby\/power-of-attorney-for-estate-planning\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/alcleanscarpet.site\/Weatherby\/"},{"@type":"ListItem","position":2,"name":"Power of Attorney for Estate Planning"}]},{"@type":"WebSite","@id":"https:\/\/alcleanscarpet.site\/Weatherby\/#website","url":"https:\/\/alcleanscarpet.site\/Weatherby\/","name":"Weatherby Website","description":"My Weatherby Website","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/alcleanscarpet.site\/Weatherby\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/alcleanscarpet.site\/Weatherby\/#\/schema\/person\/30db443038bd3749d4a9df1d359b451a","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/109719b14196238d15de64df04c47b299f9b4587d9c8248140fd4222e9dba812?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/109719b14196238d15de64df04c47b299f9b4587d9c8248140fd4222e9dba812?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/109719b14196238d15de64df04c47b299f9b4587d9c8248140fd4222e9dba812?s=96&d=mm&r=g","caption":"admin"},"sameAs":["https:\/\/alcleanscarpet.site\/Weatherby"],"url":"https:\/\/alcleanscarpet.site\/Weatherby\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/alcleanscarpet.site\/Weatherby\/wp-json\/wp\/v2\/posts\/2895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alcleanscarpet.site\/Weatherby\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alcleanscarpet.site\/Weatherby\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alcleanscarpet.site\/Weatherby\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/alcleanscarpet.site\/Weatherby\/wp-json\/wp\/v2\/comments?post=2895"}],"version-history":[{"count":1,"href":"https:\/\/alcleanscarpet.site\/Weatherby\/wp-json\/wp\/v2\/posts\/2895\/revisions"}],"predecessor-version":[{"id":3315,"href":"https:\/\/alcleanscarpet.site\/Weatherby\/wp-json\/wp\/v2\/posts\/2895\/revisions\/3315"}],"wp:attachment":[{"href":"https:\/\/alcleanscarpet.site\/Weatherby\/wp-json\/wp\/v2\/media?parent=2895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alcleanscarpet.site\/Weatherby\/wp-json\/wp\/v2\/categories?post=2895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alcleanscarpet.site\/Weatherby\/wp-json\/wp\/v2\/tags?post=2895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}