Power of Attorney

Powers of Attorney allow people to designate specific people to act on their behalves in handling financial, medical, or legal decisions. The person who grants the authority is called a principal, and the person who is given permission to act for the principal is called an agent or an attorney-in-fact.

Whereas a will merely indicates what you want to happen when you die, a power of attorney gives the person you designate control over your wishes and your possessions while you are still alive. There are several different types of these legal documents, and you will want to have legal representation to ensure that the agent you choose is not given too much or too little power.

Chester County PA Lawyer for Power of Attorney

If you need assistance drafting a power of attorney, it is wise to work with a skilled Pennsylvania family law attorney. Ciccarelli Law Offices helps clients with estate planning matters in Chester County as well as surrounding areas of Montgomery County, Delaware County, Lancaster County, and Philadelphia County.

Our Chester County family law firm will answer all of your questions, address all of your concerns, and make sure that your wishes are accurately reflected in your final document. Call (610) 692-8700 right now to take advantage of a free consultation that will let us review your case. We are based in West Chester PA with locations throughout the greater Philadelphia metro area.

Chester County Power of Attorney Overview

How many different versions are available for this document?
What are an agent’s responsibilities?
What power will an agent have?
How is this document different from a guardianship?

Types of Power of Attorney in Pennsylvania

The different types of this estate planning document include:

Durable Powers of Attorney — These documents take effect as soon as principals sign them and they end with their deaths. Durable powers of attorney can frequently combine health care powers of attorney and living wills, allowing agents to make decisions regarding medical care and end-of-life decisions in the event that principals become incapacitated.
General Powers of Attorney — These documents give agents the authority to do anything the principal would do, but the power of the document ends if the principal dies or becomes incapacitated.
Limited Powers of Attorney — These documents allow agents to act on behalf of principals only in specific situations, typically with a beginning and ending time specified within the document.
Springing Powers of Attorney — These documents go into effect only if the principal becomes incapacitated.

Duties of Agent in Chester County Power of Attorney

Unless a provision in the document indicates otherwise, Pennsylvania Consolidated Statute Title 20 Chapter 56 § 5601.3 states that an agent who accepts an appointment as attorney-in-fact shall:

Act in accordance with the principal’s reasonable expectations to the extent actually known by the agent and, otherwise, in the principal’s best interest
Act in good faith
Act only within the scope of authority granted in the power of attorney
Act loyally for the principal’s benefit
Keep the agent’s funds separate from the principal’s funds unless the funds were not kept separate as of the date of the execution of the power of attorney or the principal commingles the funds after the date of the execution of the power of attorney and the agent is the principal’s spouse
Act so as not to create a conflict of interest that impairs the agent’s ability to act impartially in the principal’s best interest
Act with the care, competence and diligence ordinarily exercised by agents in similar circumstances
Keep a record of all receipts, disbursements and transactions made on behalf of the principal
Cooperate with a person who has authority to make health care decisions for the principal to carry out the principal’s reasonable expectations to the extent actually known by the agent and, otherwise, act in the principal’s best interest
Attempt to preserve the principal’s estate plan, to the extent actually known by the agent, if preserving the plan is consistent with the principal’s best interest based on all relevant factors, including:
- The value and nature of the principal’s property.
- The principal’s foreseeable obligations and need for maintenance.
- Minimization of taxes, including income, estate, inheritance, generation-skipping transfer and gift taxes.
- Eligibility for a benefit, program or assistance under a statute or regulation.

Authority Granted in Pennsylvania Power of Attorney

Pennsylvania Consolidated Statute Title 20 Chapter 56 § 5602 states that a principal can empower an agent to do any or all of the following:

Make limited gifts
Create a trust for principal’s benefit
Make additions to an existing trust for principal’s benefit
Claim an elective share of the estate of principal’s deceased spouse
Renounce fiduciary positions
Withdraw and receive the income or corpus of a trust
Authorize principal’s admission to a medical, nursing, residential or similar facility and to enter into agreements for my care
Authorize medical and surgical procedures
Engage in real property transactions
Engage in tangible personal property transactions
Engage in stock, bond and other securities transactions
Engage in commodity and option transactions
Engage in banking and financial transactions
Borrow money
Enter safe deposit boxes
Engage in insurance and annuity transactions
Engage in retirement plan transactions
Handle interests in estates and trusts
Pursue claims and litigation
Receive government benefits
Pursue tax matters
Make an anatomical gift of all or part of principal’s body

It is important to note that Pennsylvania Consolidated Statute Title 20 Chapter 56 § 5601.4 outlines some authorizations that require specific and general grants of authority. These include the abilities to:

Create, amend, revoke or terminate an inter vivos trust other than as permitted above
Make a gift
Create or change rights of survivorship
Create or change a beneficiary designation
Delegate authority granted under the power of attorney
Waive the principal’s right to be a beneficiary of a joint and survivor annuity, including a survivor benefit under a retirement plan
Exercise fiduciary powers that the principal has authority to delegate
Disclaim property, including a power of appointment

Differences Between Power of Attorney and Guardianship in Chester County

Powers of attorney are different from guardianships in several ways, including:

Power of Attorney

Guardianship

Lower costs

Higher costs

Limited authority

Broader authority

Principal chooses agent

Court chooses guardian

Principal must be cognizant and mentally competent

Ward needs to be incapacitated

Agent can be personally liable for not acting in accordance with wishes of principal

Guardian only risks liability if he or she commits illegal acts

Principal can revoke agreement

Court must terminate guardianship

Find A Power of Attorney Lawyer in Chester County PA

Make sure that all of your estate planning concerns are addressed by having an experienced Pennsylvania family law attorney help you properly create and file your legal documents. Ciccarelli Law Offices can determine the best ways for you to protect your assets and have your wishes carried out in the event that you ever become incapacitated.

Our firm serves all of Chester County, including West Goshen, Kennett Square, Paoli, Oxford, West Grove, Malvern, Phoenixville, Downingtown, West Caln, Easttown, West Chester, and Coatesville. We can review your case and discuss your options during a free consultation when you call (610) 692-8700 today.