Connecticut lawmakers have reacted to the public’s outcry for nationwide uniformity regarding Power of Attorney (POA) laws. Connecticut has updated its regulations that had been unchanged prior to 1965 to join the other 18 states using a uniform statutory form by adopting the Uniform Power of Attorney Act that will be effective October 1, 2016.
POAs are documents used by a person (the principal) to designate someone (the agent) to make decisions and act on the principals behalf when the principal is unable to do so. POAs generally name the agent and the powers granted to him or her. POAs are useful in a variety of situations such as:
– Buying and selling property
– Handling banking transactions
– Entering safety deposit boxes
– Filing tax returns
– Purchasing life insurance
– Health care POAs can be used to make health care decisions along with health care proxies
Overall, the new law should streamline the use and efficiency of POAs executed in Connecticut within the State, as well as their use outside Connecticut. Therefore, it is important to update your POAs to take advantage of the benefits of the new laws. Consulting with your attorney is essential in order for your future plans to be personalized and your objectives to be met. The attorneys at Rucci Law Group, LLC are well versed in these issues and can help you to draft a new POA to accomplish your goals.
In addition to understanding Power of Attorney documents, RLG recommends that Â Essential Documents Â be available, particularly for Young Adults (18 years and older), as these provide you with the authority to act on their behalf in legal, medical and financial areas if your loved one is sick or hurt.
Some of the highlights of the new Power of Attorney Act are as follows:
– A POA is now durable unless it expressly provides that it is terminated by the incapacity of the principal. This is the reverse of our current POA, where a durable power needs to expressly state that it survives incapacity;
– There are two statutory forms available for the Power of Attorney (POA), the Short Form and the Long Form;
– A new signature is required, no longer using the words Attorney in Fact;
– An agent’s Standard Powers are more broadly defined and includes the agent’s authority, duties and liabilities;
– Additional Powers allow a principal to grant an agent authority over more subjects with more specific powers for agents described under each subject;
– A Probate Court may continue, limit, suspend, or terminate a POA when appointing a conservator;
– Certain people are now authorized to petition the Probate Court to review a POA or an agent’s conduct;
– People are required to accept POAs in most circumstances, allowing people to request information about them, and limiting when people can refuse to accept POAs; and,
– A POA is valid if its execution complied with the law as it existed at the time of execution.