One of the biggest misconceptions, according to the lawyers, is that a power of attorney will automatically allow a trusted relative to continue managing a person’s affairs after incapacity.
By
Jackson Ngari
Contributor
Nation Media Group
What happens when an ageing parent loses the ability to make important financial decisions? Across Kenya, the assumption is that a spouse or an adult child can step in, operate the bank accounts, manage property or run the business.
A Power of Attorney is less powerful than most families assume – and the window to use it may be shorter than you think.
Families end up in court and lose property due to missing wills and weak succession planning, leaving estates exposed to disputes…
While wills and trusts deal with what happens after death, a power of attorney addresses what happens during one’s lifetime.
One of the biggest misconceptions, he says, is that spouses and children automatically inherit a deceased person's debts.
Attorneys see these costly mistakes all the time, and they want you to avoid them for your family's sake.
Families can take steps before a health crisis prevents a loved one from making their own decisions. There are three pillars of…
