Cut drawing in the Power of Attorney Form

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How to Cut drawing in the Power of Attorney Form

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hey there im paul Rabelais im an estate planning attorney and in this video im gonna talk all about power of attorney something just about everybody does hmm often misunderstood so Im gonna lay out really 10/10 critical points that affect people when they either are creating a power of attorney or theyve been appointed by someone else who created a power of attorney so Im Paul Rabelais estate planning attorney help our clients all around Louisiana get and keep their legal affairs in order so first let me go over what is a power of attorney so power attorney is something that just about everybody does when theyre getting all of their legal affairs in order but its a its an instrument or a legal document where you give someone else the authority to transact for you and then were gonna you know dig into some of the details here so I want to give you ten key points about power of attorney the first four are gonna be really more definitions but you need to know the definitions and

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Can you gift money if you have power of attorney?

Yes, a property and financial power of attorney agent can make limited monetary gifts on behalf of the donor to others. However, its important to remember that gifts must only be made if it is in the best interests of the donor and should be in line with the donors financial needs.

What if I no longer want to be LPA?

An attorney can disclaim their appointment by completing an OPG form LPA005. This can be downloaded here. As part of the disclaimer process, you will need to send the original form to the Donor to notify them. If there are other attorneys, you will also need to send a copy of the form to them.

Does a solicitor have to draw up a power of attorney?

You dont have to use a solicitor to create an LPA. The application forms from the Office of the Public Guardian (OPG) contain guidance to help you fill them out.

Does next of kin override power of attorney?

Its important to note from the start that, contrary to popular opinion, being next of kin does not legally entitle you to make health or financial decisions on behalf of your relative. In many instances, in order to represent your loved one you will need a Lasting Power of Attorney in place.

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