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5 Cards in this Set
- Front
- Back
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What are 2 areas of concern when a person becomes incompetent?
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Who will manage the person's property? Who will make personal, health and medical care decisions for the person?
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What are the unique characteristics of a durable power of attorney.
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1. The authority of the agent continues to be exercisable even if principal becomes incompetent. 2. Any act done by the agent during incompetency will be binding on the principal.
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Strengths and weaknesses of a durable power of attorney.
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Strength is agent's authority continues even after the prinicipal ceases to be legally competent. Weaknesses: Agent has authority over principals property even while principal has legal competency. 2.Person dealing with agent must recognize the power's validity. 3. Agent usually has no duty to take specific action.
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What is the advan of using a living trust rather than a dur power of attorney?
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1. The trustee's power under the trust must be honored (agent under a dur power of attoney cannot compel 3rd parties to act) 2. mgmt and dist terms are more detailed in a trust.
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Strengths and weaknesses of a DPOACH.
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1. Adults can name an agent for health care decisions 2. Defines what agent can act 3. creates # of requirements, prohibitions. Weakenesses: State statute may narrowly define when an agent can act 2. State statute may limit decision making power of agent 3. Agent has no duty 4 Agent's authority may not be valid for routine health care
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