Power of attorney abuse
The abuse of a power of attorney is one of the most widespread financial problems of the elderly and their families. A durable power of attorney, known as a POA, allows people to designate an agent to take care of financial and property transactions if they become incapacitated and unable to take care of themselves. The POA authorizes an agent to pay bills, change documents, write checks, enter into contracts or buy and sell their house. The purpose is to help people unable to attend to their own affairs. In most cases, it works. When POA goes wrong, wealth and savings can be lost, families torn apart and lives ruined.