Choosing Your Attorney
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The individual you choose as your attorney-in-fact must be someone who has your complete trust. Obviously, this person should have some knowledge of financial matters - especially if a general power is contemplated.
Ideally, your attorney-in-fact should also have some understanding of your financial objectives so as to be better equipped to carry out your plans. Accordingly, spouses often name each other as their attorneys. Whomever you pick for this important task, designate an alternate as well, in case your first choice is unavailable when the time comes. Finally, your attorney-in-fact must be of legal age when the power is exercised.
Because the materials covered in this article are complicated, this article should not be regarded as offering a complete explanation and should not be used for making decisions. Any suggestion should be reviewed with your personal financial and tax advisor.
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