Many families assume that once they sign a power of attorney document, they are protected for life. Unfortunately, that belief is creating serious problems for seniors and caregivers as states tighten legal requirements and financial institutions become more aggressive about rejecting outdated paperwork. Across the country, banks, hospitals, and even government agencies are increasingly refusing older power of attorney forms that do not meet updated standards. In some cases, adult children or caregivers suddenly discover they cannot pay bills, access accounts, authorize medical care, or manage finances during emergencies. Here is what you need to know about the changes happening to the power of attorney laws in the United States.
