The Pennsylvania Legislature has mandated certain changes to Powers of Attorney as of January 1, 2015, which, among other provisions, include:
- All Powers of Attorney must now be notarized, and witnessed by two individuals. However, the Agent cannot be the Notary, or serve as one of the witnesses.
- The Notice to be signed by the Principal has been modified to better inform the Principal concerning the broad powers extended to the Agent.
- The Agent Acknowledgment form has been expanded concerning the responsibilities of the Agent to the Principal.
- Certain “hot powers” must now be specifically delineated, such as, for example, the power to make a gift, create or change a beneficiary designation, and disclaim an interest in property.
Although Powers of Attorney executed prior to January 1, 2015 will remain valid, an update with your attorney is highly recommended, to ensure that the Power of Attorney permits your Agent to legally act according to your wishes.
Contact the Law Firm of DiOrio & Sereni, LLP
To learn how we can help you put an effective estate plan in place, call us at 610-565-5700 or send us an e-mail. Evening and weekend meetings can be arranged upon request, and we will travel to meet with you, if necessary. We accept Visa and MasterCard.
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