As mentioned in the previous blog, you can select an agent in your Powers of Attorney (POA). The question is: who is a "good" agent? While it is ultimately up to you to select your agent, there are some traits that a good agent will have. Determining who your agent will be also depends on the document that you wish to execute.

Power of Attorney for Property

Your POA for property agent will be responsible for handling your financial affairs. If you do not provide any restrictions, this person will have full access to your accounts, assets, and other financial information. This is not necessarily a bad thing but you want to make sure your agent is someone whom you can certainly trust with managing your money. While your agent should act in your best interests, things can happen where they may not. For instance, you wouldn't want to risk having a spendthrift as your agent because this could potentially result in a loss to your overall estate.

Key traits to look for: Responsible, reliable, financially careful, honest

Power of Attorney for Healthcare

Your agent for your POA for healthcare should be level-headed. He or she will be responsible for making your healthcare decisions, which could potentially be life-changing for you. You have the opportunity to direct your agent to make specific decisions on your behalf so that you still remain in some sort of control over your body. While you may direct your agent to make these decisions, it may be difficult for them to do so. For example, you don't want to have an overly emotional agent who will cause a delay in making an essential decision for your well-being. You want someone who will act rationally and promptly so that you can be comfortable.

Key traits to look for: Rational, calm, understanding, efficient

As a final note, if you have any doubt that your agent can act with due care, diligence, and competence, then you should consider a different agent. This person will be responsible for making good faith decisions on your behalf during your disability or incapacity so their role is very important. Keep in mind from last week's blog that your agent will be discharged from their duties upon your death.

Consult with an attorney to help you select your agent or for more information.