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Elder Law

Top Ten Reasons to Have a Well-Drafted Power of Attorney

November 1, 2022

A well-drafted, comprehensive Durable Financial Power of Attorney is an essential element of both basic estate planning and long-term care planning. It empowers your agent to manage your affairs during a period of incapacity and, when drafted correctly, to engage in real planning if a crisis hits.

Standard fill-in-the-blank forms often lack the specific gifting, trust-funding, retirement, and tax powers that Maryland Medicaid planning requires. Elder-law-grade powers of attorney include them explicitly.

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