“Thought for the Day” #952 – by Stephen R. Elville, J.D., LL.M.

April 20, 2017

A major concern in elder law among family members and others serving as agent under a financial power of attorney for another is liability – specially “what is the extent of my liability as an agent?” The answer to this question is multifaceted, and involves a discussion of the general duties and obligations of an agent to their principal, state law, and legal counseling about certain recurring situations arising in elder law, including how to steer clear of liability in those circumstances where the agent may inadvertently obligate themselves personally for the financial obligations of the principal.