• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Wilcox Attorneys, PA

Wilcox Attorneys, PA an Arkansas Estate Planning & Trust Information Center

Northwest Arkansas Estate Planning Attorneys (479) 443-0062

Client Vault
  • Home
  • Our Firm
    • Our Firm
    • About the American Academy
    • Advantages of Working With Our Firm
    • Attorney and Staff Profiles
    • News & Events
    • Speaker Connection
  • services
    • Asset Protection & Business Planning
    • Elder Law & Medicaid Services
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses & Farms
    • Incapacity Planning
    • Legacy Planning
    • Pet Planning
    • Secure Act
    • Special Needs Planning
    • Trust Administration & Probate
  • Webinars
  • Practice Areas
  • Resources
    • DocuBank
    • Elder Law Reports
    • Estate Planning Resources
      • Estate Planning Articles
      • Estate Planning Checkup
      • Estate Planning Definitions
      • Estate Planning Reports
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Top 10 Estate and Legacy Planning Techniques
    • Frequently Asked Questions
      • Estate Planning
      • Frequently Asked Questions for Families Without an Estate Plan
      • Incapacity Planning
      • Legacy Wealth Planning
      • Medicaid Planning
      • Pet Planning
      • Probate
      • Trust Administration & Probate
    • Newsletters
    • Pre Consultation Form
    • Trust Administration & Probate Resources
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Loss of a Loved One
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
  • Reviews
    • Our Reviews
    • Review Us
  • Contact Us
  • Blog

Will the Social Security Administration Accept My Power of Attorney? And Other POA Questions.

February 29, 2012 by Deb Sexton Leave a Comment

The Social Security Administration will NOT accept any power of attorney documents.  They will only communicate with and work with an individual named as the Representative Payee.  This is the form to be named as a Representative Payee: https://www.ssa.gov/online/ssa-11.pdf.

What Other Institutions May Not Accept My Power of Attorney?

Most financial institutions will be hesitant to honor a power of attorney that is more than three to five years old, is from another state, or if the signature looks questionable.  They are afraid that they will be held liable if they honor a power of attorney that has been revoked, is invalid, or was signed under coercion.

When is My Financial Power of Attorney Effective?

Most financial powers of attorney are effective as soon as you sign them.  Some financial powers of attorney are drafted as “springing” which means that they are effective when a specific event occurs.  They event is typically an individual’s disability.

The authority of your power of attorney ends at your death.  The moment you die, it is no longer effective.  In addition, you can revoke your power of attorney during your lifetime.

Do I Need a Financial Power of Attorney?

If you are age 18 or older, you need a financial power of attorney.  If you don’t have one and you become incapacitated, your loved ones will have to go to court and request a guardianship proceeding.  The guardianship proceeding is called a “conservatorship” in some states.

Court interference is a loss of control as the court, not you, chooses who manages and invests your assets and pays your bills.  The court may even appoint a stranger such as a local attorney.  All this costs a lot of money, takes time, and is a stress for your loved ones.

If you don’t have a financial power of attorney, or yours is more than three to five years old, consult with a qualified estate planning attorney to get a new power of attorney in place.

  • Author
  • Recent Posts
Deb Sexton
Latest posts by Deb Sexton (see all)
  • Estate Planning is Essential Whether You Are Married or Not - April 25, 2018
  • Income Tax Basis in Estate Planning – Part 2 - April 23, 2018
  • The Downsizing Generation: How to Handle a Surplus of Stuff When a Loved One Ages - April 18, 2018

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Wilcox Attorneys, PA

DOWNLOAD OUR FREE ESTATE PLANNING WORKSHEET

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

Subscribe to Our Blog

Subscribe to our blog for all the latest estate planning news and updates!

Office Address

Fayetteville
2766 Millennium Drive
Fayetteville, AR 72703
Phone: (479) 443-0062

Office Address

Prairie Grove
1100 Division Street, Suite 4
Prairie Grove, AR 72753
Phone: (479) 846-6026

( By Appointment Only )

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 12:00 PM

Map

map for office
  • Facebook
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

footer-logo

© 2023 American Academy of Estate Planning Attorneys, Inc.