If I have a Power of Attorney do I need a will?
- August 7, 2020
- David Greene
- Comments Off on If I have a Power of Attorney do I need a will?
A Power of Attorney and a will are not related and one has no effect on the other. A Power of Attorney has legal validity only during a person’s lifetime and a will has legal validity only after a person dies. I would encourage everyone to grant a durable Power of Attorney to your spouse, child or someone you trust. Then, if something should happen to render you incompetent, such as a bad accident, etc., your Attorney in Fact (now called Agent) could handle your financial affairs without the need of an expensive Court action to appoint a Conservator. Unlike a will, a Power of Attorney is recorded in the Register of Deeds office at the Courthouse. There are two other things to keep in mind about a Power of Attorney. First only give a power of attorney to someone you really trust because you are giving that person the power to deal with your assets, including selling your assets. Second, the power may be used not only when the person is incapacitated but also when he could act for himself, with the Grantor’s permission. Thus, you need a Power of Attorney but also you need a will to pass your assets after you die.