Client & Payment PortalBefore It’s Too Late: POA Mistakes Lawyers See Every Day
In this episode of TFE Talks, David Thompson and Jordan Goewey discuss the essential role of powers of attorney (POA) in estate planning. They explain what a power of attorney is, the difference between financial and health care powers of attorney, and key terms like “durable” and “springing.” The conversation covers broad vs limited financial powers of attorney, how to choose and structure agents (including co-agents and compensation), and why most financial POAs are effective immediately rather than springing. On the healthcare side, they walk through South Carolina’s healthcare power of attorney form, including decisions on organ donation, life-sustaining treatment, and nutrition/hydration, and compare it to a living will, explaining why a healthcare power of attorney is usually the better, more comprehensive tool. The key takeaway is that nearly every adult, young, old, or with college-age children or aging parents, should have both financial and health care powers of attorney in place to avoid court intervention and ensure trusted decision-making in times of incapacity.
Notes:
Topics in this conversation include:
- What a Power of Attorney Is and How It Works During Life (1:24)
- Durable vs Springing Powers of Attorney Explained (2:25)
- General vs Limited Financial Powers of Attorney (5:05)
- Choosing Agents, Co‑Agents, and Compensation Issues (6:39)
- How a Health Care Power of Attorney Differs From Financial POA (9:43)
- Organ Donation, Life‑Sustaining Treatment, and Feeding Tube Choices (11:16)
- Living Wills vs Health Care Powers of Attorney in South Carolina (14:34)
- Why Almost Everyone Needs Financial and Health Care POAs (17:11)
- Powers of Attorney for Adult Children and Aging Parents (17:52)
TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you’re refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.
The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney.