To draft or change a Power of Attorney, it is important to consult with an attorney to ensure that any Power of Attorney and related documents are carefully crafted to accomplish exactly what is intended and not more.
Q Is financial fraud against seniors truly a concern?
A As the number of seniors continues to increase, so does the prevalence of financial fraud targeted at this vulnerable population. Financial exploitation is a serious concern that can result in devastating consequences for seniors, including the loss of life savings and financial independence. It’s crucial to take steps to protect loved ones from financial fraud.
Q How can a financial Power of Attorney help?
A A financial Power of Attorney (POA) is an important, helpful tool that permits a designated person or institution to make financial decisions on behalf of another person. The goal is to have a POA in place before someone becomes too frail, ill, handicapped, or incapacitated. Without a POA in place for an incapacitated individual, the alternative is a costly court proceeding for guardianship.
Q What are concerns around POAs?
A Ironically, one of the ways senior exploitation can happen is through abuse of a POA. Since the agent under the POA typically has access to funds, property and personal information of the principal and can make decisions without informing family or close friends, a broadly worded POA can lead to financial exploitation and other harm. The agent can make large purchases or investments that may not be recouped at a later time. This can be addressed with proper counseling as to who might be a good fit as an agent and defining appropriate parameters of the agent’s authority.
Q What are grandparent rights?
A Recognition of grandparent rights is a fairly recent trend and a bit of a misnomer. Grandparent rights refer to the legal rights of grandparents to have access to their grandchildren, either through visitation or even custody in certain situations.
Q What circumstances can lead to grandparents seeking visitation or custody and what factors might the court consider?
A Maryland’s statutes contemplate “reasonable visitation” to a grandparent if it is in the child’s best interest. Grandparents may seek visitation or custody when the parents of their grandchildren are divorced or separated, one or both of the parents are deceased or when there is evidence of abuse or neglect. Some factors that are considered include the child’s physical and emotional health, safety and welfare; wishes of the parents, grandparents and the child, depending on maturity; as well as the relationship. Each case involving grandparents and visitation and custody is fact-specific and unique.
Q How can Stein Sperling help in the issue of grandparent rights?
A While always considering the best interests of the child, our experienced family law attorneys can help grandparents understand their legal rights and legal options. They assist in navigating the legal system and provide support throughout this emotionally challenging process. It is sometimes possible to reach a settlement outside of court that satisfies both the grandparents and the child’s parent(s). The family law attorneys at Stein Sperling can help negotiate a settlement agreement that protects the grandparents’ visitation rights.