Detailed analysis. Introduction -- What Is a durable power of attorney? -- Comparison of DPAs and revocable living trusts -- Relationship of agent under DPA to guardian or conservator -- What laws should be considered in drafting the durable power of attorney? -- Does the client have the legal capacity to execute a DPA? -- What type of DPA should be used? -- Springing powers: should the DPA be effective immediately or in the future? -- Who should serve as agent? -- What administrative provisions should be included in a DPA? -- Should the principal authorize the agent to make gifts of the principal's assets? -- What authority should be granted concerning trusts? -- What authority should be included in the DPA concerning taxation? -- Third party acceptance of the agent's authority -- Deterring and remedying abuse of the DPA -- Customizing the DPA to meet client needs and preferences -- Form and execution -- Revocation or termination of the agent's authority -- DPA drafting system -- Reviewing DPAs for third parties -- Conclusion -- Working papers.
Summary:
" ... contains basic information on durable powers of attorney (DPAs) and discusses many aspects of their creation and use for disability planning. It provides a definition of the DPA and analyzes its development and evolution. Additionally, an overview of the Uniform Power of Attorney Act ("UPOAA"), promulgated in 2006 by the National Conference of Commissioners on Uniform State Laws, is presented throughout the portfolio. The analysis includes an examination of the agent-principal relationship and provides a comparison of DPAs to revocable living trusts. Issues discussed in depth include legal capacity, selection of an agent, deterring abuse of the DPA, relationships of agent to guardian or conservator, obtaining third party acceptance of DPAs, the differences between unconditional and springing DPAs, and the form and execution of DPAs, as well as many other topics. In addition, practical advice is provided for attorneys concerning setting up a DPA drafting system and on the pricing of customized DPAs. The portfolio includes extensive forms and practice insights which are intended to help practitioners implement the strategies and ideas of the text."
