A Georgia Power of Attorney (POA) is one of the three foundational estate planning documents that most adults in Georgia need in place (the other two are the Advance Directive for Healthcare and a Last Will and Testament). Essentially, a POA allows you to appoint an agent to act on your behalf and manage your financial affairs either out of convenience for you, or if you become incapacitated. Should you reach a point where you cannot manage your finances due to dementia or another situation, a POA can be very effective to make sure things are taken care of, and that the right people will be able to step in and act on your behalf.
Georgia’s POA laws changed significantly in July 2017, and the new laws are more favorable in ensuring that your wishes are followed and that your POA can be utilized properly. So, if you have a POA that was signed before July 1, 2017, it may be very wise for you to update to the new statutory form, or a form with similar language, to take advantage of the new laws.
If you have questions about a POA or other estate planning needs, contact us to discuss your situation. Or, if you prefer to gather additional information first, request our free guide to estate planning in Georgia and we’ll send it out to you via email, no strings attached.