Evan H Farr, CELACertified Elder Law Attorney, Farr Law Firm · Certified Elder Law Attorney, Estate Planning Attorney, Asset Protection Trust Expert, Medicaid Planning Expert, Probate Attorney, 4-time Best-Selling Author, Creator of the Living Trust Plus®️ Asset

General Power of Attorney

21 Jan 2013 · 2 min

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1:51

In this video, Certified Elder Law Attorney Evan H. Farr explains the General Power of Attorney (GPOA) as a legal instrument that authorizes a designated agent to manage an individual's legal and financial affairs. He emphasizes that a GPOA is essential for anyone who may become unable to handle these matters due to age, illness, or injury, and that it serves as a key tool to avoid "living probate"—the costly, public court process required to declare a person incapacitated and appoint a guardian or conservator, which also entails ongoing court supervision and annual accounting filings. Farr warns that not all GPOAs are created equal; only those drafted by an experienced elder‑law attorney will include critical asset‑protection provisions. He cautions against using generic forms from estate‑planning attorneys, online sources, or office‑supply stores, as these typically lack the necessary protections and can hinder future asset‑protection planning.

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Hi, I'm Evan H Farr, Certified Elder Law Attorney, and today I'm here to talk about the General Power of Attorney. A General Power of Attorney authorizes your agent to act on your behalf and manage your legal and financial affairs. The General Power of Attorney is the most important legal document that every person needs and is an essential tool in the event that, due to age, illness, or injury, you are unable to carry on your legal and financial affairs. Having a General Power of Attorney is a way of avoiding living probate, the time-consuming, expensive, and publicly embarrassing process whereby somebody has to go to court to have you declared mentally or physically incapacitated, and then one or more persons need to be appointed to serve as your legal guardian and/or conservator. Which process is subject to ongoing court supervision, including the filing of the dreaded annual accountings every year for the rest of your life. Unfortunately, not all general power of attorneys are the same, and you must be sure to get your power of attorney from an experienced elder law attorney to ensure that your power of attorney contains vitally important asset protection provisions. The power of attorney you might get from an estate planning attorney or from the internet, or that you might get from Office Depot or Staples or some home lawyer software program— these documents typically don't contain these vitally important asset protection provisions and can therefore interfere with the ability to do future asset protection planning for your benefit.