As you get older, strengthening your estate plan becomes crucial to ensure your wishes are respected if you become incapacitated. One popular tool for this is a power of attorney. But many wonder, can a power of attorney change a will?
What Is a Power of Attorney?
A power of attorney (POA) is a legal document that allows someone you trust, called an agent, to make decisions on your behalf. These decisions may include handling finances, managing property, or making medical choices depending on the type of POA you set up. The agent doesn’t have to be a lawyer—you can appoint any trusted person.
You can also assign multiple people to act as co-agents, giving them shared authority to manage your affairs.
Types of Power of Attorney
There are several types of power of attorney:
General Power of Attorney: Grants broad authority to handle a variety of financial and legal matters, like managing bank accounts, paying bills, selling property, or filing taxes.
Limited Power of Attorney: Restricts the agent’s authority to specific tasks or time frames, such as managing a single bank account or a retirement fund.
Durable Power of Attorney: Remains in effect even if you become incapacitated and allows the agent to manage your finances and property. Note, it does not give authority over medical decisions.
Medical Power of Attorney: Specifically authorizes the agent to make healthcare decisions for you when you can’t make them yourself.
Can a Power of Attorney Change a Will?
Here’s the key answer: No, a power of attorney cannot change your will.
Wills require the person making them (the testator) to be of sound mind at the time the will is signed. A power of attorney grants authority to handle financial or legal matters while you are alive but does not grant the agent the legal right to alter or rewrite your will. Any attempt by an agent to change your will would be considered invalid in court.
What Authority Does an Agent Have Related to Your Estate?
While a POA agent can’t directly change your will, they can influence your estate by managing your assets during your incapacity. For example, if you leave investments to one child and cash holdings to another but give one child power of attorney, that child could sell investments to pay for expenses. This may unintentionally reduce the inheritance for others named in your will.
How to Prevent Abuse of Power of Attorney
To protect your estate from potential misuse of power of attorney, consider these steps:
Choose Your Agent Wisely: Pick someone you trust implicitly.
Clearly State Your Wishes: Provide detailed instructions in your POA document.
Name Co-Agents: Assign multiple agents to share responsibility and oversight.
Require Accountability: Have your agent provide regular written reports of their actions to a trusted third party or attorney.
Limit Authority: Work with an estate planning attorney to restrict the powers your agent holds.
Why Work with an Attorney for Power of Attorney and Estate Planning?
Although a power of attorney cannot change a will, poor planning or lack of oversight can still affect your estate and heirs. Crafting a clear, legally sound power of attorney document is vital to protecting your assets and family.
At the Law Offices of Mary E. King, we specialize in creating customized estate plans and power of attorney documents that safeguard your wishes and prevent future conflicts. No matter your financial situation, we can help you create a foolproof plan tailored to your needs.
Final Takeaway
Can a power of attorney change a will? No. But an agent with POA can influence your estate indirectly through financial decisions. That’s why careful planning and choosing the right person to hold your power of attorney are essential steps in securing your family’s future.
If you want a solid, secure estate plan, contact the Law Offices of Mary E. King for expert help drafting your power of attorney and will. Your peace of mind and family’s future depend on it.
