Does Your Estate Plan Account for Georgia’s New Power of Attorney Law?
Effective July 1, 2017, the Uniform Power of Attorney Act (“UPOAA”) will apply to new powers of attorney (“POA”) for persons in Georgia. A POA is an important estate planning tool that can help avoid expensive conservatorship arrangements in the event of incapacity. Among the most important benefits of the UPOAA is that there is now a mechanism to enforce acceptance by third-parties, such as banks and other financial institutions, under certain conditions. While POAs executed prior to July 1, 2017, remain effective, now is an ideal time to revisit your current estate plan and determine if a new POA would be advisable. If you have questions, Ichter Davis LLC is ready to help. Please contact William Daniel Davis at 404.869.5261.