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4 Things to Know About the Power of Attorney Are you writing your will, creating a trust, or planning to soon? If so, you need to know these four things about the Power of Attorney and how to use it wisely. 1. What is a Power of Attorney? A Power of Attorney (POA) is a legal document that gives someone else the right to act on your behalf. This person — often called your “agent” — can do things like sign your
SOLUTION
checks, pay your bills, make monetary gifts, and more. With a “durable” POA, they can even manage your business and property if you become incapacitated.
2. Do I need a POA?
Yes! You should complete a Power of Attorney while creating your estate plan because having an agent makes it much easier for your family and friends to handle your affairs if you’re overwhelmed by an injury or illness. Without a POA, you might fall behind on payments or other financial obligations.
COZY FRENCH ONION SOUP
3. How do I choose the right agent? As the American Bar Association rightly puts it, “Integrity, not financial acumen, is often the most important trait of a potential agent.” That means instead of asking yourself, “Which of my family members/ friends is best with money?” you should ask, “Who do I trust most?” You can choose any capable adult who fits the bill. 4. Are two agents better than one? Some estate planning lawyers will ask you to choose two agents to act as checks and balances on each other. This sounds like a great idea, but it often backfires. If you give two people powers of attorney, they can turn on each other, arguing about how much latitude they have and how best to spend your money. This infighting might not impact you personally if you’re incapacitated, but it can make executing your wishes stressful for your family. To spare them the drama, stick to one agent you can trust. Still have questions? We can help! Our firm doesn’t create estate plans, but we do handle estate disputes and regularly advise our clients about powers of attorney, trust documents, and more. If we can’t answer your question, we’ll direct you to a trustworthy expert who can.
INGREDIENTS • 5 tbsp olive oil, divided • 1 tbsp butter • 8 cups sliced onions • 3 garlic cloves, minced • 1/2 cup port wine
• 2 32-oz cartons beef broth • Salt and pepper, to taste • 24 slices baguette (1/2-inch thick) • 3/4 cup shredded Gruyere cheese
DIRECTIONS
1. In a Dutch oven, heat 2 tbsp oil and butter over medium heat. Add onions and cook until softened, then reduce heat. Occasionally stir until brown (around 30 minutes). Add garlic and cook for 2 more minutes. 2. Stir in wine and bring to a boil. When liquid has reduced by half, add broth, salt, and pepper. Bring to a boil, reduce heat, and simmer for 1 hour. 3. Preheat oven to 400 F. On a baking sheet, brush baguette slices with remaining oil. Bake until golden (3–5 minutes each side). 4. In 12 broiler-safe 8-oz bowls, place 2 toast slices and pour soup into each. Top with cheese and broil until melted.
Inspired by TasteOfHome.com
www.MottleyLawFirm.com | 3
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