In part two of a six-part series, “Keeping your practice compliant,” Ellen Bessner, partner, Babin Bessner Spry LLP, and Dan Richards, CEO, Client Insights, discuss what to do when clients’ adult children have power of attorney.
Advisors and firms should ensure they are implementing the recommended practices involving powers of attorney and senior clients
Regulators are continuing to mull over possible changes to the rules that restrict dealer employees from acting as an executor, power of attorney (POA), or trustee
Help your clients protect themselves by preparing powers of attorney
Taking the word of a client’s family member that he or she has the power of attorney on the client’s account is a practice fraught with peril
Boomers must address the gap between a “healthy” and “average” life expectancy: report
Lack of will or power of attorney opens doors to legal complications
Make conversations about issues such as wills and POAs routine
A relationship with a client can change dramatically when the client starts showing signs of mental incapacity and the person with power of attorney wants to step in.
A growing number of elderly people are falling victim to those empowered to look out for them. What can you do to protect your clients?