Do You Need a Durable Power of AttorneyFebruary 23, 2015
The Durable Power of Attorney is a legal document that allows a trusted person to act in your place if you’re incapacitated. If you are unable to act on your own due to an accident or illness they can step in to take action for you. They can pay bills or control investments, or even make decisions about health care issues. Many people prefer to keep their medical and financial directives separate.
The Durable Power of Attorney is different from a Power of Attorney. The Durable Power remains in effect after you become incapacitated. The person acting for you is then called your “agent”. Your agent does not have to be a financial expert. They’re just someone you trust completely. They could even take care of daily things for you, like opening mail and making bank deposits. Everyone needs an Estate Plan. And a Durable Power of Attorney is just one of the instruments you’ll need as part of your plan. And be aware, if you do not make preparations for your future, the courts may have to make important decisions for you.
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