There has been recent criticism of the statutory power of attorney as unduly complex and a trap for the unwary. A sensible comparison can be made with the health care proxy. It is one page long and gives the agent power over the life and death of the principal. The power of attorney can be 12 pages long. The health care proxy is a model for encouraging its use. The power of attorney is a model for discouraging its use.
The issue is important because the power of attorney is one of the most ubiquitous legal documents. It permits the naming of an alter ego to manage financial affairs. It is commonly used in the elder law context when there is the threat of an illness that may result in the inability to handle financial affairs in the future. Properly used it can avoid the need for a public, time-consuming, and expensive guardianship proceeding. It is also used in almost every other practice area of the law where it may be a matter of convenience.
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