• Sell It or Save It? Spell It Out
  • August 26, 2009
  • Law Firm: Harter Secrest & Emery LLP - Rochester Office
  • As estate planning attorneys, we routinely draft Durable General Powers of Attorney for our clients. In Powers of Attorney, we often include broad powers for real estate transactions, and we often address limited gifting powers. It is also not a rare occurence for our clients to include in their Wills bequests and devises of specific realty or personal property. It is, therefore, easy to imagine the following situation in routine estate planning: a grandchild of an aging client of yours contacts you to let you know that your client has moved from her residence into a nursing home, and that your client is showing some signs of diminished mental capacity. Your client has significant wealth and is a private-pay resident at the nursing home. The grandchild, who is agent for his grandmother pursuant to a Power of Attorney you prepared, would like to discuss selling his grandmother's residence as it is unlikely that his grandmother will return to the residence...How would you advise the grandchild as agent for your client regarding these issues...?