1-power of attorney-saturday-january-5-2019 · title: microsoft powerpoint - 1-power of...
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Power of AttorneyThe material in this presentation is provided for information purposes only; it is not legal advice and should not be relied upon in such a manner. You should consult a lawyer to address the specific circumstances surrounding your matters
AAII Retirement and Investing GroupSaturday, January 5, 2019
from 9:30 am to NoonSkirball Centre
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What is a Power of Attorney?
Judith M. Sack 2019
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Judith M. Sack 2019
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How are they created?
Judith M. Sack 2019
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The principal directs any actions the
agent takes on his or her
behalf
Judith M. Sack 2019
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California Practice
Preference for specific documents for different uses, for example:
What is not a power of attorney?
Finances Health CareDigital Assets
Judith M. Sack 2019
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Power of Attorney for Financial Matters
Judith M. Sack 2019
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Statutory Form• _________ (A) Real Property Transactions. • _________ (B) Tangible Personal Property Transactions. • _________ (C) Stock and Bond Transactions • _________ (D) Commodity and Option Transactions. • _________ (E) Banking and other Financial Institution Transactions. • _________ (F) Business Operating Transactions. • _________ (G) Insurance and annuity transactions.• _________ (H) Estate, Trust, and other Beneficiary Transactions. • _________ (I) Claims and Litigation. • _________ (J) Personal and Family Maintenance. • _________ (K) Benefits from Social Security, Medicare, Medicaid, or other • governmental programs or civil or military service. • _________ (L) Retirement plan Transactions. • _________ (M) Tax matters. • _________ (N) ALL OF THE POWERS LISTED ABOVE.
Judith M. Sack 2019
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Statutory Form Versus DetailedExample of detailed provision dealing with Real Property:Statutory form: _________ (A) Real Property Transactions.
Detailed power of attorney:(1) Real and Personal Property. To take any actions for the management or maintenance of any real or personal property in which I own an interest when this Power is executed, or in which I later acquire an interest, including the power to acquire, sell, and convey ownership of property; control the manner in which property is managed, maintained, and used; change the form of title in which property is held (including creating or severing a “joint tenancy” right of survivorship); satisfy and grant security interests and other encumbrances on property (including a "reverse mortgage"); obtain and make claims on insurance policies covering risks of loss or damage to property; accept or remove tenants; collect proceeds generated by property; ensure that any needed repairs are made to property; exercise rights of participation in real estate syndicates or other real estate ventures; make improvements to property; and, perform any other acts described in California Probate Code §§4451 and 4452.
Judith M. Sack 2019
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Power of Attorney for A Specific Transaction
Judith M. Sack 2019
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Digital Assets
Judith M. Sack 2019
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Power of Attorney for Health Matters
Judith M. Sack 2019
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Trends
Attorney prepared documents versus bank forms.
Health care insurer forms versus attorney created documents.
Judith M. Sack 2019
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THIS PRESENTATION IS NOT LEGAL ADVICE
Your presenter: Judith M. Sack Estate Planning Attorney
The contents were provided for information purposes only, and should not be relied upon as legal advice. You should consult a lawyer to address the specific circumstances of your situation.
Judith M. Sack 2019