091 Reducing the Risk of Power of Attorney Abuse


Manage episode 233922393 series 2359394
By Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio streamed directly from their servers.

In This Episode:

Dr. K speaks with senior attorney David Godfrey, JD, of the American Bar Association Commission on Law and Aging, about drafting better power of attorney documents so as to reduce the risk of abuse. David works closely with the National Center on Law and Elder Rights and authored an issue brief in 2018 that covers advance planning and how to avoid exploitation. They discuss:

  • What is a general durable power of attorney (POA) and why every person should complete one
  • Common reasons why older adults may need someone else to transact business for them, such as temporary or permanent incapacity
  • Why court intervention may be necessary if an older person does not have a POA
  • How POAs can be used for financial exploitation, and how drafting protections in the POA document can reduce the risk of abuse
  • 6 key precautions to take, when drafting a general durable power of attorney
  • How requiring third party accounting can reduce family conflict
  • Why it s a good idea to require a second signature for major transactions
  • The benefits of granting the power to revoke the POA to a third party
  • How older adults can find affordable legal assistance, for help drafting a POA
  • Options for older adults who have no close family available to serve as an agent
  • Resources to help guide agents to manage power of attorney duties

Related episodes:

037 Interview: Using Powers of Attorney to Help Older Adults

070 Interview: Addressing & Preventing Financial Exploitation in Aging

Related Resources:

Never Miss an Episode! Sign up here to be notified of our latest podcast episodes by email. Click here now.

The post 091 Interview: Reducing the Risk of Power of Attorney Abuse appeared first on Better Health While Aging.

93 episodes available. A new episode about every 14 days averaging 34 mins duration .