Q: My older sister wants to be POA over my father to handle his finances, bank accounts, insurance, etc. But, my father doesn’t want to give her authority to sell/transfer/liquidate his real estate property. He would like to have a will done to include his three children receive shares of the real estate property. Please advise on what steps to take to insure his wishes are carried out since he is 84 years old and my mother just passed away on 5/25/17.
A: The “powers” portion of a General Durable Power of Attorney can be tailored to fit a particular need. Your father should make an appointment with an attorney and have the attorney draft a POA which removes the specific powers which authorize an agent to transfer real estate. Limiting language can be added to the effect that he does not authorize his agent to sell, transfer or liquidate his real estate.