2. Determine who will serve as the agent and discuss the job with that person.
A power-of-attorney agent should not only be someone the person trusts and feels comfortable with but also someone with enough financial savvy to handle his financial affairs. If his finances are complex, the agent should be financially sophisticated. Also, the agent should be someone who has the time to attend to necessary financial duties, and who is likely to remain committed to doing so if the person becomes incapacitated and remains so for a long time. It's also a good idea if the agent lives nearby, within reasonable driving distance of the person and his property.
Regardless who becomes the agent, it's also important to consider carefully who is to be the alternate or successor agent. This is the person who would take over the job of agent if the first person named became unwilling or for any reason unable to do the job.
After the older adult has decided who the agent and successor agents should be, it's time to discuss this responsibility individually with each person he has chosen. He should make it clear to each person what handling the financial affairs would entail, and the person should give a clear commitment to take on the job if and when it becomes necessary.
Recommended for you
- 5 Legal Documents You Need for Your Loved Ones
- Power of Attorney for Finances: A Step-By-Step Guide
- What authority is needed to gather a parent's documents for Medicaid?
- What documentation do I need to enable the companies to discuss her accounts with me?
- 8 Things to Know About Power of Attorney for Finances

