Financial Powers of Attorney

Avoiding Guardianship in Old Age

A few weeks ago, a client alerted me to an episode of the John Oliver show about guardianships gone wrong. A guardian is someone appointed by a court to act on behalf of a person who is unable to make responsible decisions regarding his or her daily affairs because of their age, disability, injury, orRead More

Can An Incapacitated Person Make or Revoke a
Durable Power of Attorney?

A durable power of attorney is an important document. It authorizes another person to handle financial affairs on your behalf. If you don’t have a durable power of attorney and become incapacitated, a guardianship may be necessary. Guardianships are expensive and cumbersome and can be avoided with a durable power of attorney. Generally, you canRead More

When Can a Financial Institution Reject a Durable Power of Attorney in Texas?

Effective September 1, 2017, a person to whom a durable power of attorney is presented must accept a durable power of attorney except unless: The person is not otherwise required to engage in a transaction with the principal under the same circumstances. For example, when an agent tries to open a bank account and the principal isRead More

Recent Changes to Durable Power of Attorney Statute

The legislature made several beneficial changes to the Durable Powers of Attorney statute that went into effect on September 1, 2017. Below are a few of the most significant changes: Prior to September 1, 2017, financial institutions routinely rejected financial durable powers of attorney for a myriad a reasons. The statute now identifies eleven specificRead More

Is A Financial Institution Required To Accept A Durable Power Of Attorney?

Before September 1, 2017, financial institutions routinely rejected durable powers of attorney for a multitude of reasons. A colleague once told me that a bank rejected her client’s power of because two months had elapsed since the client had signed it and the financial institution argued it was “stale” even though the power of attorney hadRead More

What are the Requirements of a Valid Durable Power of Attorney in Texas

<span class=”dropcap”>A</span> durable power of attorney is a document that will allow you, the principal, to appoint someone you trust (an agent) to engage in specified business, financial and legal transactions on your behalf. For purposes of the Texas Durable Power of Attorney statute, a durable power of attorney is valid if: It is aRead More