The probate court is not a comfortable setting. Not only are the emotions and stress high from losing someone dear, but the process can also either be long and arduous, quick and painless, or avoided all together. To avoid it, a lot of folks choose to use a power of attorney. Michigan probate and estate planning attorney, Dean E. Patrick, has compiled a list of questions that he typically receives from clients related to estate planning with powers of attorney. Please refer to any of the below FAQs for initial information and, if you have more questions, contact our estate planning law firm at (248) 663-2566.
Attorney Dean E. Patrick is a licensed Michigan lawyer specializing in probate and estate planning law. His team has the knowledge to provide legal advice and legal assistance to make your life a little easier. Their knowledge of Michigan estate planning and probate law ensures you will get the legal help you need when you need it. Listed below are commonly asked questions about Michigan powers of attorney used in Michigan estate planning.
Q. Can my agent steal from me?
A. Yes. Although there are laws against such behavior, you should be very careful when selecting your financial agent(s). Mr. Patrick and his team will help you with this important decision and all other decisions related to your estate planning.
Q. What is the best way to choose an agent/advocate?
A. Consider the character of the agent/advocate and how well they fit with the responsibility you are giving them.
Q. What is the difference between a power of attorney and a durable power of attorney?
A. With a “durable” power of attorney, you agent may continue to act on your behalf if you become incapacitated.
Q. Are there different types of the power of attorney instrument?
A. Yes. Different tools have been created to give you control of your financial and healthcare decisions if you become incapacitated and for application in a variety of other situations outside of the estate planning realm.
Q. Is there a government agency to monitor the behavior of my agent?
A. While the probate court has jurisdiction over such matters, by default an agent in a power or attorney is not supervised by the court which makes it a popular estate planning too to keep the state out of your affairs.
Q. If I sign a power of attorney, do I give up control of my financial and/or medical decisions?
A. No. While you have capacity, you remain in control. In the estate planning context, think of a power of attorney like insurance – you do not want to use it but will be happy it is there if you have to.
Q. If I have a will, trust, or both, do I need a power of attorney?
A. Yes. A power of attorney is used while you are living and can be used in conjunction with a trust as applicable.
Q. Are there any downsides to using a power of attorney?
A. Yes, unlike a court supervised conservatorship, nobody is looking over your agent’s shoulder with a power of attorney.
Learn more about our estate planning firm’s services:
- Power of Attorney Finance
- Power of Attorney Physical Health
- Power of Attorney Mental Health
- Power of Attorney Stories
Contact our Southfield, Michigan office at (248) 663-2566 or click here to arrange your consultation initial consultation regarding any power of attorney matters.
