On April 9, 2020, Texas Governor Greg Abbott temporarily suspended certain statutes to allow for appearances before notary public via video conference. Rosenblatt Law Firm can get certain estate planning documents executed for our clients remotely if necessary.
Review Your Durable Power of Attorney
If you become infected with COVID-19 and are unable to make financial decisions on your own, a Durable Power of Attorney (DPOA) is an essential document to have in your estate plan. The DPOA allows you to appoint an agent to make financial decisions on your behalf, including banking transactions such as paying your monthly bills, running your business, or even making gifts of property to loved ones. A well drafted DPOA can be very helpful in preserving your assets in the event of an emergency or dire medical diagnosis.
As a rule of thumb, your MPOA and DPOA remain effective for approximately 5 or 6 years, at which point they become “stale dated” and may be ineffective in certain situations. State laws governing your MPOA and DPOA also change frequently, so if you have an existing MPOA or DPOA that was executed several years ago, it is important to review and update those forms to ensure compliance with current law.