Q: Is re-doing my 14 year old POA (with no changes) a bad idea for any reason?
In 2023, a banking institution and a securities brokerage in Texas refused to accept my mother’s (Texas) Durable Power of Attorney executed in 2010, because their internal policy was not to accept POAs over three years old, irrespective of prominent language that the POA “was not affected and shall not terminate by subsequent disability or incapacity or because of mere lapse of time.”
Regardless of my thoughts about whether their refusal was proper, but wanting to avoid any similar experience for myself or my POA, is there any downside to my replicating my own 2010 POA (POA to my spouse; no changes to content or provisions) and signing a new POA in 2024?
A: No. There is no reason not to redo it.
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