Food for thought:
While the simplicity and directness, not to mention efficiency, of a Durable Power of Attorney is more often than not appropriate, it does open up the opportunity for concerns relative to supervision. Think about it this way:
Suppose you were to take all of your assets and convert them into widely circulated $10s and $20s and place all of it in a strong box and hide that in a place that only you and your potential appointee knew about. Then you assured your appointee that for of four days they would be able to access that strong box without anybody in the world knowing or seeing. In that situation, are you willing to appoint this person?
If your answer is anything but an immediate and unqualified, “Yes,” with regard to that appointee, then you should not appoint that person and begin thinking about someone else.
In most instances, people are very comfortable with those they contemplate appointing and are able to derive the full measure of benefits available from an effective Durable Power of Attorney.
By: Bruce M. Fogel, Esquire