As you assemble your estate plan, you realize you do not have an agent for your power of attorney. Who should speak with your voice to act on your behalf or sell your home?
American Bar Association explores the power of attorney document and offers tips for choosing an agent. Get insights into making a decision you feel comfortable with.
Your options
Common power of attorney agent candidates include spouses, children and siblings. You may feel more comfortable asking your close friend to serve as your agent if you feel she or he possesses the right qualities.
While you may name multiple parties to serve as your agent, that could open pitfalls. For instance, all agents may not have the time or capacity to fill their roles at the same time. Your co-agents may not agree, which could complicate matters. You may note in your power of attorney whether the majority may act if all agents cannot act when needed. To cover all your bases, consider naming a successor.
Your agent’s qualities
Think carefully about whether your agent possesses the skills and qualities necessary to oversee your assets. For instance, you may prefer someone who lives nearby. It makes sense to have an assertive agent who stands strong to honor your desires. If you want your agent to make medical decisions for you, you could prefer someone who understands the medical process.
Your news
Once you decide who you want to serve as your agent, let the person know you want her or him to fill the role. You do not want the role and its responsibilities to come as a surprise.
Think carefully about the right person to oversee your estate, health or assets. Agents should provide peace of mind.