Estate Planning and Power of Attorney (POA)
Many people understand the benefits of a Living Trust as an important part of their estate planning. However, if the Trustee is no longer of sound mind and is unable to function in that role, a common mistake is to execute a Power of Attorney (POA) to amend the Living Trust to reassign the Trustee. The bottom line is, a POA for a Trust will not work. Please consult a local estate attorney for more information.
If you or someone you know is interested in buying or selling a property on Florida’s Suncoast, please feel free to reach out to me. I live, play and work in Sarasota, Lakewood Ranch, Bradenton, and the surrounding areas. Visit my website at DavidMillsRealtor.com or call 941.405.3596 for more.