Legal Question in Wills and Trusts in New Jersey

Re: Power of attorney

The answer depends upon what you are trying to accomplish. If you are not placing yourself at risk to lose your assets to the holder of the Power (assumes they can only exercise it to benefit ALL family members, not just himself), there may be minimal risk. If he can make you destitute by exercising the Power, this would be extremely risky and I would recommend using multiple siblings, acting together, or select someone other than that sibling.

Re: Power of attorney

It could be very dangerous depending on the sibling named as attorney-in-fact and on the type of authority granted in the power of attorney.

It is not uncommon for serious problems to occur, where either money is spent or invested unwisely or in the worst case, money is outright stolen from the parent. The advantage of naming more than one sibling as attorney in fact is that if siblings are named jointly, then there is some control over spending, investing, etc. While having two of more attorneys-in-fact is more cumbersome, this method can save a lot of aggravation and money if the sibling turns out to be a "bad apple".

Jon Chester

908-273-1212

Re: Power of attorney

Powers of attorney should not be used unless absolutely necessary. Even then, the power of attorney should be limited. Whenever you give anyone the power to act for you, it could cause problems.

Re: Power of attorney

A Power of Attorney is a very powerful document; I can't recommend giving this authority/power to someone with an "untrustworthy background". I think you answered your own question.