Durable Powers of Attorney
A power of attorney authorizes someone else to handle certain matters, such as finances or health care, on your behalf. If a power of attorney is durable, it remains in effect if you become incapacitated for any reason, including illness and accidents. Durable powers of attorney help you plan for medical emergencies and declines in mental functioning. Having these documents in place helps eliminate confusion and uncertainty when family members have to step in to handle finances or make tough medical decisions.
What Is It?
A general durable power of attorney (GDPOA), also known as a durable power of attorney for finances, allows someone of your choosing, known as an Agent, to make decisions and act on your behalf when you are unable to do so because of cognitive decline, other situations where you simply want someone to help you manage your legal, business, or financial affairs, or you need someone to step in and handle your affairs during a period of extended absence. Your GDPOA can take effect immediately upon signing this legal document, or later, upon a finding that you have become incapacitated.
What's the Best Form of POA?
A general durable power of attorney (GDPOA), also known as a durable power of attorney for finances, allows someone of your choosing, known as an Agent, to make decisions and act on your behalf when you are unable to do so because of cognitive decline, other situations where you simply want someone to help you manage your legal, business, or financial affairs, or you need someone to step in and handle your affairs during a period of extended absence.
Your GDPOA can take effect immediately upon signing this legal document, or later, upon a finding that you have become incapacitated.
Do I need a POA?
While GDPOA’s help you and your loved ones avoid probate court in the event of your incapacity, they do not help with the transfer of your assets upon your death or replace the need to have other important estate planning documents in place such as a Will, Trust, Health Care Durable Power of Attorney, HIPAA Release, and Declaration and Living Will.
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