People often confuse power of attorney with executor of the estate. Power of attorney authority is only valid while the person who has granted the authority is alive.
Once that person passes away, the executor of the estate then assumes responsibility of managing the estate through the probate process.
Both are very different roles but can be held by the same person. The individual(s) are most often adult children of the person granting the power, although a person of sound mind can assign the roles to anyone who agrees in writing.
There are different varieties of power of attorney. The most common are general power of attorney and medical power of attorney.
The general power of attorney refers to the management of financial, business, or private affairs.
If a parent grants power of attorney to one of their children, that child then has the sole authority to act on behalf of the parent. For more information, contact our offices at 845-298-2000 of visit our site.