Category Archives: Uncategorized

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What’s an MG?

Happy Father’s Day to the dads and thanks to the many who have called or written me about, “Will Power”. Some have asked, “What’s an MG?”. “What does Will’s car look like?”. Will Hoyle, “Super Sleuth”, drives a red MGB similar to that pictured in one of the photos attached. I own an MGTD, in the other attached photo and pictured on the back cover of, “Living Will”. Mine was built during 1949-1950 when the MG Company first began producing left-hand drive cars for it’s American market. For some reason, driving it gets my creative juices moving, so frequently I’ll take along my MAC to record ideas the minute “Shirley” is parked. Most MGs have names. Mine is named after its first owner, Shirley Temple Black. Check them out at paulhollthrillers.com

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Legal Topic#2: How To Prevent Losing Your Money If you Become Ill.

“A nickel ain’t worth a dime anymore.” – Yogi Berra

Clients ask me what will happen if they, or their parents, become too ill to handle their investments and pay their bills. Should they add the names of relatives or friends to their accounts and hope for the best? Should they give verbal permission to someone else to sign checks? What happens to their money if their illness becomes permanent?

These are legitimate concerns, especially in the midst of an economy where it has become increasingly more difficult to make ends meet.

The answer is to have a properly prepared, duly witnessed and notarized Durable Power of Attorney (POA). “Durable”? What does that mean?

The new changes in Pennsylvania law, as in many other states, encourage such powers to be given in such a way that they do not expire in a given period of time or after a specified illness. The POA remains in effect until it is revoked by the person granting it. This enables the holder of the POA to continue helping pay bills for medical expenses, utilities, taxes, and other essential services.

Now, by law, there is a required notice that must be given to the grantor of the POA explaining, in specific terms, the powers that are being given to the person chosen to  serve as an agent. The POA document itself is lengthy and contains many specifics that have evolved from generations of litigation. In addition, the recipient must sign a notarized oath acknowledging receipt of their responsibilities and duties.

Signed copies of this document are given to financial institutions, advisors, and health providers as the sole legal authority for anyone to act on the grantor’s behalf. I like to think of it as the ultimate, protection document for my client’s money.

For more information, please submit questions and comments to the “comment” page above or email, paul.holl@comcast.net (215-527-5635).


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