Shopping Cart
Your Cart is Empty
There was an error with PayPalClick here to try again
CelebrateThank you for your business!You should be receiving an order confirmation from Paypal shortly.Exit Shopping Cart

My Blog


What are the Risks of a Power of Attorney?

Posted on July 5, 2022 at 4:25 PM

What Is a Power of Attorney? What Are the Risks of a Power of Attorney?


A power of attorney (POA) can be a useful tool in many situations, but you need to know the

dangers of having a POA or being named as the agent in someone else’s POA. The person who

creates and signs a power of attorney is the grantor or maker of the POA. The individual the

grantor names to act on behalf of the grantor is the agent.

You will want to talk to a Missouri estate planning attorney if you are thinking about signing a

POA or if someone asked you to serve as their agent in their POA. I will be happy to answer

your questions and draft your POA or provide legal guidance if you are the agent in someone

else’s document.

A Quick Overview of a Power of Attorney

A power of attorney is a legal document that gives authority for one person (the agent) to act

as directed for another person (the grantor). Only the grantor can create the POA. Someone

else cannot create a POA that gives them the legal power to take your control away from you.

Making a power of attorney is always a voluntary decision, and you can revoke a POA at any

time as long as you still have legal capacity. If you have the mental and legal capacity to create a

POA, you have the right to revoke the paper as well. The level of capacity required to make and

sign a POA is the same as for entering into a contract or signing a will.

With the POA, your bank and other financial institutions will allow your agent to do the things

that you specify in the POA, the same as if you were there in person to make those


Short-Term POAs

One of the most common uses for a short-term POA is to empower someone else to attend and

sign documents for you if you will not be available to attend a real estate closing. The POA will

contain specific terms that limit what your agent (not your real estate agent, but the person

you name in the POA) is allowed to do.

The POA will expire soon after the closing. The person who serves as your agent signs the

closing documents in your name, with the deed, title, and other papers being for your benefit,

not the benefit of the agent. The agent is not allowed to take any actions other than those

specified in the POA.

With a POA, you will not have to cancel your vacation or reschedule the closing. You can truly

have your cake and eat it, too. You can go ahead with your travel plans and buy the house of

your dreams.


Long-Term POAs

There are two main categories of long-term POAs – medical and financial. A medical power of

attorney lets you decide who will make decisions for you or follow your instructions if you

become incapacitated. A financial POA, also called a general power of attorney, empowers

someone to handle your financial matters if you become unable to do so or if you would rather

not be bothered with money management.

These POAs need to be “durable,” which means that they are still valid if you become

incapacitated. You could have a POA that is not durable, but you should talk with a lawyer

about whether that document will meet your needs.

The Danger of Having a POA

One of the greatest risks of giving another person the legal authority to handle your money or

other assets is that they might use the POA to steal from you. Trust is one of the most crucial

factors in entering into a POA.

The Risk of Serving as Someone’s Agent Under a POA

Sometimes, an agent can be personally liable for actions taken under a POA. You do not want to

get accused of mishandling someone else’s money. Honest mistakes are seldom grounds for

personal liability, but gross negligence that causes financial harm to others could lead to a


A Missouri estate planning attorney at the Faulstich Law Firm can answer your questions about

powers of attorney and draft the document for you or review a POA someone has asked you to

sign. Also, we can provide guidance on how to fulfill your duties as an agent under someone

else’s power of attorney.

Categories: None

Post a Comment


Oops, you forgot something.


The words you entered did not match the given text. Please try again.


Reply sinsumbar
5:16 PM on July 5, 2022 
dressing for reception oakley m frame vented lenses adidas revigo 17 goalkeeper jersey transparent phone case cleaning indiana jones hat walmart all grey air max 2017 womens
Reply bez-diploma
5:55 AM on July 6, 2022 
rockets christmas jersey tiffany love heart ring lularoe marly black iphone 8 plus phone case on shoes federer white nautica cap
Reply Leather Store World
7:11 AM on July 6, 2022 
Excellent quality jacket and excellent service.The leather is super soft and fits perfectly.I highly recommend it to others who are seeking a leather jacket. Leather Store World
Reply novaapk
7:24 AM on July 6, 2022 
to buy crocs andy studebaker jersey kansas city chiefs 96 youth white elite jersey nike nfl jersey sale michael kors lanyard card case wholesale nike hyperdunk 2017 all red nike kd 7 hommes noir scala collezione beach hat
Reply blusealdoors
4:17 PM on July 6, 2022 
jordan 11 mid nike air jordan 5 retro black pink louboutin protection ahman green packers jersey romo color rush jersey pink texas rangers hat 9pm
Reply cindenyolla
10:54 PM on July 6, 2022 
bruin poloshirt policewoman cap tiffany open heart necklace diamond cropped north face jacket vintage billabong cap
Reply levitraeos
7:01 PM on July 7, 2022 
limited matt cassel youth throwback jersey dallas cowboys 16 alternate white nfl atlanta braves floppy hat times queens tiffany love bug necklace dwyane wade miami heat jersey cheap swimming hats nike elastico white usa
Reply off white outlet
5:14 AM on July 8, 2022 
Thanks for all your efforts on this site. My aunt delights in getting into investigation and it's really easy to understand why. All of us hear all of the dynamic ways you make rewarding information by means of your website and in addition improve response from website visitors on this issue then our own princess has always been discovering a great deal. Take advantage of the remaining portion of the new year. You have been doing a really good job.
off white outlet
Reply supreme outlet
5:16 AM on July 8, 2022 
Thanks for all of the effort on this blog. My mother takes pleasure in participating in investigations and it's easy to see why. Almost all notice all concerning the lively means you produce effective tactics via the web blog and encourage participation from visitors on this concern plus our own daughter is in fact discovering a lot of things. Have fun with the rest of the year. You have been conducting a stunning job.
supreme outlet
Reply kyrie 6 shoes
6:00 AM on July 8, 2022 
Thank you so much for providing individuals with remarkably spectacular possiblity to read articles and blog posts from this website. It is always very great plus full of a good time for me and my office co-workers to visit your blog at the very least 3 times in one week to see the newest guides you will have. And lastly, I'm also actually satisfied concerning the mind-boggling pointers served by you. Some 1 ideas in this post are completely the very best we have had.
kyrie 6 shoes
Reply golden goose outlet
6:01 AM on July 8, 2022 
I as well as my guys have been looking at the good advice located on the blog and the sudden I had a terrible feeling I had not expressed respect to you for those strategies. Those boys appeared to be absolutely warmed to study all of them and have in effect definitely been taking pleasure in them. Thank you for genuinely really kind as well as for going for such beneficial information millions of individuals are really desirous to know about. My very own honest apologies for not expressing gratitude to you sooner.
golden goose outlet
Reply goyard bags
6:02 AM on July 8, 2022 
I would like to point out my gratitude for your kindness in support of men who really need guidance on this particular subject. Your special dedication to getting the solution all through has been remarkably productive and have consistently permitted professionals much like me to realize their dreams. Your entire warm and helpful guide signifies a lot to me and additionally to my mates. Many thanks; from all of us.
goyard bags
Reply cheap curry 7
6:02 AM on July 8, 2022 
I would like to show thanks to this writer for rescuing me from this particular crisis. After browsing through the world wide web and meeting thoughts which were not helpful, I believed my life was over. Being alive without the approaches to the problems you've resolved as a result of your good article content is a crucial case, and ones that could have adversely affected my career if I hadn't come across your site. Your main understanding and kindness in maneuvering all the pieces was very useful. I don't know what I would have done if I had not come upon such a thing like this. I'm able to at this time look forward to my future. Thanks for your time very much for this reliable and sensible guide. I will not be reluctant to suggest the blog to anybody who would like recommendations about this situation.
cheap curry 7
Reply moncler
6:02 AM on July 8, 2022 
I would like to express thanks to the writer just for rescuing me from this type of crisis. Just after exploring throughout the world wide web and coming across recommendations that were not productive, I was thinking my life was done. Being alive without the solutions to the difficulties you've fixed through your good article content is a crucial case, as well as ones that might have badly damaged my entire career if I hadn't discovered your web site. That talents and kindness in dealing with all the stuff was valuable. I am not sure what I would have done if I hadn't come upon such a point like this. I can at this point look forward to my future. Thanks for your time very much for the impressive and sensible guide. I will not be reluctant to recommend your web sites to anyone who ought to have counselling about this issue.
Reply kyrie 5 spongebob
6:04 AM on July 8, 2022 
I wanted to make a quick remark to be able to express gratitude to you for all the nice guidelines you are posting on this website. My prolonged internet lookup has at the end been honored with beneficial points to go over with my partners. I would claim that most of us website visitors are unquestionably lucky to be in a fabulous site with very many brilliant professionals with insightful plans. I feel pretty happy to have encountered your entire weblog and look forward to many more fabulous minutes reading here. Thank you once more for all the details.
kyrie 5 spongebob
Reply bape outlet
6:14 AM on July 8, 2022 
I together with my pals appeared to be looking at the great points found on the website and instantly I got an awful suspicion I had not expressed respect to the site owner for those tips. Most of the guys ended up absolutely excited to read all of them and now have in actuality been using these things. I appreciate you for actually being well accommodating as well as for selecting variety of incredible information most people are really wanting to be informed on. Our sincere regret for not saying thanks to earlier.
bape outlet
Reply cheap curry 6
7:28 AM on July 8, 2022 
I simply wanted to construct a word in order to appreciate you for those fabulous solutions you are giving out on this website. My particularly long internet look up has at the end been honored with good quality information to write about with my good friends. I 'd suppose that we readers actually are rather endowed to be in a useful place with so many brilliant individuals with good points. I feel quite blessed to have discovered the webpage and look forward to really more fabulous minutes reading here. Thank you once more for all the details.
cheap curry 6
Reply moncler jackets
7:33 AM on July 8, 2022 
A lot of thanks for all your valuable hard work on this website. Kim delights in carrying out investigations and it is easy to understand why. My spouse and i learn all of the compelling way you make worthwhile tips and tricks by means of your web blog and even strongly encourage contribution from visitors on that subject matter plus our own daughter is certainly starting to learn so much. Take advantage of the remaining portion of the year. You are always conducting a splendid job.
moncler jackets
Reply michael jordan shoes
7:41 AM on July 8, 2022 
A lot of thanks for each of your labor on this web page. My mom loves participating in research and it is simple to grasp why. We know all relating to the lively medium you deliver worthwhile tactics via this web site and even cause response from people on that point while our favorite simple princess has always been becoming educated so much. Have fun with the rest of the new year. Your performing a splendid job.
michael jordan shoes
Reply cheap kd 12
8:29 AM on July 8, 2022 
I wanted to draft you the little bit of observation to give thanks as before for the stunning strategies you have provided on this website. It was quite strangely generous with people like you to allow without restraint what a lot of folks might have made available as an e-book to earn some profit for their own end, primarily given that you might well have done it if you ever decided. Those good ideas additionally worked as a great way to recognize that other individuals have a similar eagerness just as my own to realize lots more related to this condition. I am certain there are some more pleasurable occasions up front for those who examine your website.
cheap kd 12