The owner of Carolyn M. Young Fiduciary Services, Carolyn Young has been working as a fiduciary for more than three decades. Currently in charge of $75 million in assets, Ms. Young provides a variety of fiduciary services to clients, such as serving as a power of attorney agent.
A power of attorney agent is the person (or people) you choose to make decisions for you in the event you become incapable of making them yourself. Depending on the power of attorney agreement you set up, this agent can have a broad range of responsibilities, or more specific ones relating to such things as your finances or medical care.
While you can limit how much power an agent has, you are still giving control over a major aspect of your life. For this reason, it’s extremely important to trust the agent you choose. Spend plenty of time considering your relationship. This determines how well they will be able to work with your family members, along with how likely they are to follow your choices despite what the rest of your family may want.
Beyond finding someone trustworthy, you also need an agent who can perform their assigned duties properly. Ideally, look for someone who is good at solving problems and pays close attention to detail. You also want an agent who understands finance, business, or healthcare. If your agent needs help, they must also be capable of speaking to an accountant, attorney, or other party to ensure that your wishes are followed as closely as possible.
A power of attorney agent is the person (or people) you choose to make decisions for you in the event you become incapable of making them yourself. Depending on the power of attorney agreement you set up, this agent can have a broad range of responsibilities, or more specific ones relating to such things as your finances or medical care.
While you can limit how much power an agent has, you are still giving control over a major aspect of your life. For this reason, it’s extremely important to trust the agent you choose. Spend plenty of time considering your relationship. This determines how well they will be able to work with your family members, along with how likely they are to follow your choices despite what the rest of your family may want.
Beyond finding someone trustworthy, you also need an agent who can perform their assigned duties properly. Ideally, look for someone who is good at solving problems and pays close attention to detail. You also want an agent who understands finance, business, or healthcare. If your agent needs help, they must also be capable of speaking to an accountant, attorney, or other party to ensure that your wishes are followed as closely as possible.