WAEstate

Attorneys & Counselors

Call Now: (281) 759-3213

  • FB
  • TW
  • IN
  • YT
  • RSS
  • Home
  • Our Firm
    • About Our Firm
    • About The American Academy
    • Advantages of Working With Our Firm
    • Attorney and Staff Profiles
    • Mission Statement
    • Multimedia
    • Published Books
    • The Academy Fellow Designation
  • Services
    • Asset Protection & Business Planning
    • Elder Law & Medicaid Services
      • Are You A Caregiver
      • Coping With Alzheimer’s
      • Guardianship & Conservatorship
      • Hospice Care
      • Emergency Medicaid & Nursing Home Planning
      • Medicaid Planning
      • Veteran’s Benefits
    • Estate Planning Services
    • Family-Owned Businesses & Farms
    • Financial Planning Assistance
    • Incapacity Planning
    • IRA & Retirement Planning
    • Legacy Planning
    • LGBTQ Estate Planning
    • Pet Planning
    • Special Needs Planning
    • Trust Administration & Probate
  • Seminars
  • Testimonials
    • Client Testimonials
    • Representative Clients
    • Review Us
  • Resources
    • Elder Law Reports
    • Estate Planning Resources
      • 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      • Is Your Estate Plan Outdated?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 FAQ’s
      • Frequently Asked Questions for Families Without an Estate Plan
      • Legacy Wealth Planning FAQ’s
      • LGBTQ Estate Planning Frequently Asked Questions
      • Trust Administration & Probate Frequently Asked Questions
    • LGBTQ Resources
    • Probate Resources & Trust Administration
      • 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
    • Special Needs Resources
  • Contact Us
  • BLOG

Your Power of Attorney Might Not Work for Your Retirement Plan

May 4, 2011 by Stephen A. Mendel, Estate Planning Attorney

When you establish a Financial Power of Attorney, it is with the intent of appointing a trusted person to take care of your finances in the event of your disability. But did you know that not all Powers of Attorney allow your agent access to your retirement plan?

In order for your agent to have the authority to access and manage your 401(k), IRA, or other retirement plan, your Power of Attorney must contain specific language authorizing such access. If you have a do-it-yourself Power of Attorney, or even one that was drawn up by an attorney but is several years old, your agent might not have all the authority you think they have.

How can you make sure that your Power of Attorney will function effectively if you become incapacitated? You’ll want to have it reviewed by a qualified estate planning attorney. He or she can let you know which powers your agent does – and does not – have. If your agent does not have sufficient authority to manage your retirement accounts, your attorney can put in place a new Power of Attorney.

Of course, if you don’t have a Power of Attorney, you’ll want to meet with an estate planning attorney while you’re still alive and well. He or she can make sure you have a fully functioning incapacity plan so that, in case you become mentally disabled, the people making decisions on your behalf will be those you have chosen, and not those a court chooses for you.

  • Author
  • Recent Posts
Stephen A. Mendel, Estate Planning Attorney

Stephen A. Mendel, Estate Planning Attorney

Mr. Stephen Mendel is an attorney who focuses a substantial part of his practice on estate planning. Mr. Mendel’s guiding principle is to provide his clients with quality legal services tailored to each client’s specific needs and goals.
Stephen A. Mendel, Estate Planning Attorney

Latest posts by Stephen A. Mendel, Estate Planning Attorney (see all)

  • Famous Estates-Champ or Chump? Nelson Mandela - September 27, 2019
  • Famous Estates-Champ or Chump? Jane Fonda - September 13, 2019
  • Texas Trivia – Name the first of six flags to fly over Texas. - September 6, 2019

Filed Under: Incapacity Planning Tagged With: Power of Attorney

Other Articles You May Find Useful

  • Advanced Directives – Do You Need One?
  • How Do I Know When My Parent Needs A Guardian?
  • Incapacity Planning – 5 Important Reasons Why You Need an Incapacity Plan
  • Alternatives for Property Management upon Incapacity
  • Should I Have a Durable Power of Attorney in Houston Texas?
  • What Is Incapacity?
  • About Stephen A. Mendel, Estate Planning Attorney

    Mr. Stephen Mendel is an attorney who focuses a substantial part of his practice on estate planning. Mr. Mendel’s guiding principle is to provide his clients with quality legal services tailored to each client’s specific needs and goals.

    Follow Us

    • FB
    • TW
    • IN
    • YT
    • RSS

    Blog Subscription

    Free Worksheet

    • This field is for validation purposes and should be left unchanged.

    HOUSTON

    The Mendel Law Firm, L.P.
    1155 Dairy Ashford, Suite 104
    Houston 77079
    United States (US)
    Phone: (281) 759-3213
    Fax: 281-759-3214

    Map

    map

    Office Hours

    Monday8:00 AM - 5:00 PM
    Tuesday8:00 AM - 5:00 PM
    Wednesday8:00 AM - 5:00 PM
    Thursday8:00 AM - 5:00 PM
    Friday8:00 AM - 5:00 PM

    The Mendel Law Firm

    The information on this website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. This information on this website is not intended to create, and receipt or viewing of this information does not constitute, an
    attorney-client relationship.

    © 2019 Mendel Law Firm, All Rights Reserved. Privacy Policy | Contact Us | Disclaimer | Site Map | Powered by American Academy of Estate Planning Attorneys