We are getting older, living longer and travelling more.
As clients become more mobile, incapacity planning needs to
protect clients wherever they may live. Without proper planning, a
person who becomes incapable while owning assets or residing in
other jurisdictions could need to go through court proceedings to
appoint a guardian or equivalent.
Here's how to prevent that.
Multiple separate situs powers of attorney
Few jurisdictions recognize instruments such as powers of
attorney and advance heatlh directives that were prepared in
another jurisdiction. As such, it's a good idea for clients to
have local powers of attorney for property and for personal care
(or equivalent) in each jurisdiction where you they own assets or
spend significant time. For example, a person who owns a vacation
home in Florida or Arizona could have local powers of attorney in
each state.
