Leading Elder Law Attorney Christopher T. Casey Reveals Why An Inexpensive Power Of Attorney Can Be A Costly Mistake - Salem, MA
Aug 2, 2022
Salem, Massachusetts, United States - August 2, 2022 —
Choosing the cheapest Power of Attorney (POA) won’t necessarily mean the best option if it costs more financially in the long run, warned Salem’s Elder Law attorney Christopher T. Casey.
For more information please visit https://www.caseylundreganlaw.com.
The Partner of Casey Lundregan Burns, P.C., urged people to think carefully over the correct POA, especially if living trust issues or decisions around incapacitation come into play.
“The exact authority given to the attorney-in-fact under a power of attorney is dictated within the document, so those powers must be clearly defined,” commented Casey. “Cheap, generic powers of attorney could be the costliest decision, especially when it comes to asset protection, or those surrounding legal and medical issues.”
He elaborated: “When we talk about Medicaid asset protection if the POA does not define a power to protect an asset transaction that has effectively cost you the value of that asset.”
General powers of attorney are no good to an agent who needs more detailed provisions to ensure seamless decision-making.
Casey advised those handed responsibilities for a POA, for example, for a spouse or parent, should have an estate planning attorney review it to determine whether it’s suitable.
“A POA is only as good as the financial institutions it is presented to. If they believe it’s not specific enough, they will not accept it. This would be just like not having one at all.”
This could well come into play on Medicaid issues, such as adopting a Miller Trust for a parent or spouse whose income exceeds the statutory limit.
Casey concluded: “Waiting until after someone becomes incapacitated or unable to sign documents to affect their long-term care will be too little too late if a POA doesn’t accurately reflect what you require. That poorly written power of attorney could return to haunt you when you need it most.”
Source: http://RecommendedExperts.biz.
Contact Info:
Name: Christopher T. Casey
Email: Send Email
Organization: Casey Lundregan Burns, P.C
Address: 71 Washington Street, Salem, MA 01970
Phone: 978-741-3888
Website: https://www.caseylundreganlaw.com/
Release ID: 89079403
If you detect any issues, problems, or errors in this press release content, kindly contact [email protected] to notify us. We will respond and rectify the situation in the next 8 hours.
More News
James Spader reveals if he will return as Ultron in 'Avengers: Doomsday'
James Spader reveals if he will return as Ultron in 'Avengers: Doomsday'James Spader has finally addressed the possibility of returning as Ultron in Avengers: Doomsday.During an interview with OutNow, the 66-year-old actor revealed that people are asking him whether he will play the role of Ultron...
Spotify Removes 50 Million AI Slop Tracks from Recommendations This Year
Spotify’s quest to curb the chaos AI-generated music has brought onto the platform has caused it to remove 50 million AI slop tracks from users’ recommendations, a new figure shared Tuesday as part of the company’s public insights into how it’s navigating the AI era. The disclosure came in a post on its “For the […]
Podcasters Amy Poehler, Khloe Kardashian, Monica Lewinsky Among Winners at Signal Awards (EXCLUSIVE)
The Signal Awards, which is in its fifth year of honoring podcasts, has revealed this year’s recipients, including “Good Hang With Amy Poehler,” “Reclaiming With Monica Lewinsky” and “Khloé in Wonder Land,” which are among the dozens of shows that have received a gold medal this year. Others winning top prizes include “All There Is […]
Patrick Brammall On Apple TV Thriller ‘Last Seen’, Letting Go Of ‘Colin From Accounts’ & His ‘Devil Wears Prada 2’ Role
Colin From Accounts actor Patrick Brammall has changed speeds with his latest series, Apple TV mystery drama Last Seen. The drama, which rolled out its final episode on October 7 to good reviews, came after Brammall and his on-screen partner and real-life wife Harriet Dyer brought their much-loved Australian comedy Colin From Accounts to a […]
King Charles urged to address Andrew questions to restore confidence
King Charles urged to address Andrew questions to restore confidence The British royal family needs to address questions about Andrew Mountbatten-Windsor if it wants to restore confidence in the monarchy, said the author of a royal book after raid warrants against him were ruled...
Christina Applegate Reveals She Was Misdiagnosed With MS: ‘I’m Back at Square One’ and It’s a ‘Mindf—’
Christina Applegate returned to her podcast, “MeSsy,” on Tuesday with some shocking news: She was misdiagnosed with multiple sclerosis. After taking a break from the podcast for seven months due to her health, Applegate tearfully shared the revelation, recalling that her doctor “came into my room and said, ‘Congratulations, you don’t have MS'” (via People). […]
Create A Halloween Playlist And Reveal Who Your On-Screen Vampire Soulmate Is
I know you want Damon Salvatore. View Entire Post ›
Christie Brinkley Opens Personal Archive With Never-Before-Seen Home Movies For ‘Uptown Girl’ Docuseries
Before social media even existed, Christie Brinkley was documenting her life through letters, journals and home movies. The star has opened up this trove for Uptown Girl: The Christie Brinkley Story, the upcoming doc series about her life. Brinkley has previously let some of the material be used in HBO doc Billy Joel: And So […]
Jenna Ortega stuns in unusual steel-rod dress
Jenna Ortega stuns in unusual steel-rod dressJenna Ortega’s latest dress is one of a kind.At the special screening of Jenna’s upcoming film Klara and the Sun at the Crosby Street Hotel in New York City on Oct 19, the actress appeared in a dazzling, metallic, ankle length dress with a...
Victoria Beckham gives shut-up call to daughter Harper ahead of her biggest milestone
Victoria Beckham gives shut-up call to daughter Harper ahead of her biggest milestoneVictoria Beckham recently revealed what her daughter Harper Beckham made her do after she was banned from wearing makeup.During a Today Show segment with Zanna Roberts Rassi, the wife of English footballer David...
The Broad will move more than 160 works to Paris and Leimert Park during construction
The Broad will display more than 160 works in a major exhibition at the Fondation Louis Vuitton in Paris during its final phase of construction. It will also partner with Art + Practice in Leimert Park.
Emily Watson Joins ‘The Drive,’ Inspired by JFK Assassination, as Exec Producer (EXCLUSIVE)
Two-time Oscar nominee Emily Watson has joined the Oscar-qualified short film “The Drive” as executive producer, lending her support to husband-and-wife filmmaking team David Arrow and Amber Paul as the film enters awards season. Set on a warm November afternoon in the early 1960s, “The Drive” is inspired by a little-known episode that unfolded on […]
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.