Power of Attorney: The Most Misunderstood Estate Planning Tool

Episode Summary:

In this episode of If You Don’t Plan, You’re Stupid, estate planning attorney Andy Rosenberg explains one of the most powerful and misunderstood legal tools in estate planning: the Durable Power of Attorney. Andy breaks down the differences between durable, general, and limited powers of attorney, the risks of not having one in place, and how to choose the right person for this critical role. With practical examples — including real-life client stories — Andy helps listeners understand when, why, and how to use a power of attorney effectively to avoid court involvement and protect their loved ones.

 

Key Timestamps:

00:01 – Show intro: What is a Durable Power of Attorney (DPOA)? 01:10 – How it differs from a medical directive (healthcare surrogate) 02:15 – Durable vs. general vs. limited power of attorney explained 04:20 – Florida’s legal history: springing DPOA vs. current law 06:00 – The risks of a DPOA being immediately effective upon signing 07:15 – Who should have a DPOA? (Spoiler: everyone, including college kids) 09:20 – Real-life example: 52-year-old stroke victim without DPOA 11:10 – Why guardianship court is a nightmare for families 13:00 – Choosing the right person to be your power of attorney 15:00 – Common qualities to look for: trustworthy, financially competent, rule-follower 16:30 – What powers should be included in a comprehensive DPOA 18:10 – Medicaid planning: the crucial language often left out 19:40 – What powers should not be given in a DPOA 21:00 – Can a bank legally refuse to accept a DPOA? (Yes — but there are rules) 22:30 – Is a DPOA valid across state lines? What if you move? 24:10 – What happens to a DPOA after the principal dies?

 

About the Show:

If You Don’t Plan, You’re Stupid is a podcast hosted by estate planning attorney Andy Rosenberg, founder of the Law Offices of Andrew G. Rosenberg, P.A. Each episode offers straightforward, no-nonsense advice on wills, trusts, powers of attorney, and more — helping families protect their legacy and avoid unnecessary legal entanglements.