Sunday, September 2, 2012

Does a Power of Attorney have an expiration date?

In New Jersey,a power of attorney given to someone other than a spouse or civil union partner, banks and other financial institutions may reject the power if it is over 10 years old. All powers should be "refreshed" periodically to avoid any problems and also to make sure that the principal - the maker of the power - is still in agreement with the agent he/she selected. The good news is that these Powers of Attorney's or POAs are easy and affordable to refresh.

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