Power of Attorney, Durable Power of Attorney

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Power of Attorney

This information was provided by Richard H. Hallstrom, Attorney At Law, for Plan-My-Estate.com.

A Power of Attorney is a written document stating that one person gives to another the full power and authority to represent him or her. It typically should be signed by both the person who is granting the power and the person who is receiving the power. Additionally, it should either be witnessed by two people or notarized. Laws regarding Powers of Attorney differ in each state, therefore, always consult an attorney before creating a Power of Attorney.
A Power of Attorney typically deals with either healthcare issues or property issues. With a Power of Attorney for Healthcare, you can grant your designated agent the authority to make medical decisions on your behalf. With a Power of Attorney for Property, you can grant various powers to your designated agent in order to deal with your business, property or financial affairs.
A Durable Power of Attorney stays valid even if you become unable to handle your own affairs (incapacitated). If you don't specify that you want your power of attorney to be durable, it will automatically end if you later become incapacitated.
A Durable Power of Attorney can be drafted so that it goes into effect as soon as you sign it. But, you can also specify that the durable power of attorney does not go into effect unless a doctor certifies that you have become incapacitated. This is called a "springing" durable power of attorney. It allows you to keep control over your affairs unless and until you become incapacitated, when it springs into effect.

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