Powers of Attorney Can Be Tricky For Those With No Close Relatives

Web-3120321_640On a nearly daily basis our office meets with or talks to people who want to draft powers of attorney because they understand the importance of having somebody else named to make decisions on your behalf if you are not able to.

People are particularly interested in whom to name as a financial agent in a power of attorney to ensure that their bills are paid when and if they are not able to do it for themselves, or if they just need assistance doing so.

Unfortunately, people sometimes come into our office who either do not have any children or close family members, or do not have any who they trust.  However, there are options for such people.

We are very fortunate in York County to have several individuals who will act as an agent under a power of attorney in these situations. They are typically small business owners who used to be either trust officers at a bank, healthcare professionals, or financial professionals such as accountants who are now looking to assist families with this type of work.

I always start with these referrals because I know these individuals personally, and know that they run reputable businesses which are there to help families that do not have anybody to name. There are also several local banks and financial institutions that also will act in the financial power of attorney agent capacity if asked to do so. I often find that one or more of these options are a good fit, especially when the person already works with the banking institution or financial institution and it makes complete sense to continue that relationship in this capacity as well.

Certainly, families need to consider cost of services versus the overall amounts of their assets, but in a situation where there is enough to justify paying an outside individual, those professional provide a wonderful service the value of which cannot be underestimated.

If you, a loved one, or a friend find yourself in this position, we are more than happy to discuss this situation to help find the right person or organization to act as your agent under your financial power of attorney or medical power of attorney.  Please give our office a call 717-845-5390 or click here to fill out our simple form and we'll call you to to learn more about the value of powers of attorney and whom to name if you don't have somebody that you trust.

Jeffrey Bellomo

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