091 – Interview: Reducing the Risk of Power of Attorney Abuse

Better Health While Aging

English - May 16, 2019 17:00 - ★★★★★ - 109 ratings
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Dr. K talks with David Godfrey, JD, about drafting powers of attorney to deter exploitation or abuse of an older person’s finances. They discuss six steps the American Bar Association recommends older adults take when drafting a POA, how these can reduce family conflict, finding affordable legal assistance, and much more.

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In This Episode:

Dr. K speaks with senior attorney David Godfrey, JD, of the American Bar Association Commission on Law and Aging, about drafting better power of attorney documents so as to reduce the risk of abuse. David works closely with the National Center on Law and Elder Rights and authored an issue brief in 2018 that covers advance planning and how to avoid exploitation. They discuss:

What is a general durable power of attorney (POA) and why every person should complete one

Common reasons why older adults may need someone else to transact business for them, such as temporary or permanent incapacity

Why court intervention may be necessary if an older person does not have a POA

How POAs can be used for financial exploitation, and how drafting protections in the POA document can reduce the risk of abuse

6 key precautions to take, when drafting a general durable power of attorney

How requiring third party accounting can reduce family conflict

Why it’s a good idea to require a second signature for major transactions

The benefits of granting the power to revoke the POA to a third party

How older adults can find affordable legal assistance, for help drafting a POA

Options for older adults who have no close family available to serve as an agent

Resources to help guide agents to manage power of attorney duties

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