The power of attorney is a critical legal document to have in place to enable the person of your choice to handle legal and financial matters on your behalf in the event of diminished or lack of capacity. If you fail to prepare a power of attorney while you have mental capacity to do so, your loved ones can face the tremendous challenge of being stuck and not having the legal ability to help you. Without having a proper power of attorney, which specifically includes all necessary elder law provisions, your loved ones may not be able to properly plan for long term care for you or set up a pooled income trust to preserve your income while receiving Medicaid community care. The power of attorney form is changing on June 13, 2021. Read more below to learn more about the changes and how it may affect you.
https://nytrustlaw.com/blog/changes-to-the-new-york-state-power-of-attorney-law/
