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University of Wyoming Extension

 

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	Abuse of Power of Attorney: Preventing and Addressing Elder Family Financial Exploitation
	Publication #: B-1368 Date Published: 01/31/2021 Publication Author(s): Virginia Vincenti Cole Ehmke

Description:

This Extension bulletin provides factors that put individuals and families at risk for power of attorney (POA) abuse, and provides best practices for preventing and responding. A financial POA is a potent estate planning tool for managing assets and making sure that bills are paid as we age and need help. Since POAs typically give an agent great power with little or no oversight, abuse such as stealing and transferring assets away from the principal and to the agent is easy, with terrible consequences. It is based on research from a USDA multi-state project.

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