An attorney-in-fact, also known as a power of attorney (POA), is a person appointed to act on behalf of another person in legal or financial matters in Southern Indiana. Choosing the right attorney-in-fact in Indiana is a crucial decision that should not be taken lightly and should occur after weighing several factors.
Trustworthiness
The most important quality to look for in an attorney-in-fact is trustworthiness. You will entrust this person with important legal and financial matters, so they must be honest and have your best interests at heart. Therefore, choose someone with a record of honesty and integrity accomplishment.
Responsibility
Responsibility is another crucial quality to look for in an attorney-in-fact. This person should be organized, detail-oriented and able to manage complex financial matters. They should also be able to handle their affairs responsibly, which indicates their ability to manage yours.
Availability
Your attorney-in-fact should be available when you need them. They should be willing and able to take the time to understand your needs and communicate with you regularly. In addition, this person should be able to respond promptly to phone calls, emails and other forms of communication regarding your estate planning and other matters.
Knowledge and experience
Your attorney-in-fact should have a solid understanding of legal and financial matters. Look for someone who has experience managing complex financial transactions and legal matters. It is also helpful if they have experience working with POAs and understand this role’s legal requirements and responsibilities.
Compatibility
It is essential to choose an attorney-in-fact who is compatible with you and your values. This person should be able to understand your needs and preferences and be willing to work with you to achieve your goals. Look for someone compassionate, patient, and easy to work with.
Tips for selecting an attorney-in-fact
When selecting an attorney-in-fact, consider family members or close friends first. These individuals are often the most trustworthy and familiar with your needs and preferences.
Your attorney-in-fact should be someone who lives nearby, so they can easily manage your affairs and attend to your needs. If you do not have a suitable family member or friend for the role, you might consider hiring a professional attorney-in-fact.
Making the right choice
Selecting the right attorney-in-fact is a significant decision that requires thought and should not be taken on a whim. Look for someone trustworthy, responsible, knowledgeable, available and compatible with you and your values. Consider family and friends first, but be prepared to hire a professional if you are out of options.