Q: How do we setup Power of Attorney to first go to spouse, and in case the spouse is deceased, to go to children?
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A:
To set up a Power of Attorney (POA) in Minnesota that first goes to your spouse and then to your children if your spouse is deceased:
Choose the type of POA: Decide between a general or limited/specific POA.
Draft the POA document: Consult with an estate planning attorney to create a legally valid document clearly stating your intention to grant power to your spouse as the primary agent and designating your children as successor agents.
Specify powers granted: Clearly outline the powers given to your spouse and any limitations or conditions.
Appoint successor agents: State in the document that if your spouse is unable to act, the powers pass to your children in the specified order.
Execute the document: Sign the POA in the presence of a notary public and any required witnesses as per Minnesota law.
A: I am not quite sure a POA is what you need. POAs wouldn't be appropriate if the children are minors. Provisions for guardianship of the children can be accomplished through proper estate planning.
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