Does the person I name in my power of attorney take care of my estate when I die?
Does the person I name in my power of attorney take care of my estate when I die?
[MUSIC PLAYING]
Hi, I’m Matthew Crider. And a question I get a lot of, is whether the person that you name as your agent in a power of attorney will take care of and control and manage your property when you pass away? And the answer to this is, no. The power of attorney is only effective if you’re incapacitated. And the person that you name in the power of attorney will only have control over your property while you’re incapacitated.
The person who controls your property when you pass away is either the executor under a will or a trustee under a revocable living trust. So when you pass away, the power of attorney is no longer effective, and the person who is in control of your property is either the trustee under a trust, or the executor under a will.
I’m Matthew Crider, and thank you for watching.
[MUSIC PLAYING]
