If you are rendered unconscious, mentally infirm, or otherwise unable to communicate your wishes coherently, a durable POA exists to make decisions regarding your healthcare, your finances, and other critical legal matters on your behalf. While a regular POA allows someone to make certain decisions on your behalf while you are still capable of making decisions, a durable POA takes over when you lack the capacity. For estate planning, meaning to protect your financial future and healthcare decision making, the most crucial type of POA is a durable power of attorney.Ī durable POA exists specifically to allow your POA to make decisions on your behalf if you become incapacitated as a result of injury, illness, or disability. You might, for example, give a financial advisor the ability to buy and sell stock on your behalf. Despite the name, a POA does not need to be a lawyer it is merely someone whom you grant certain decision-making powers. POA can come in different forms, such that different POAs have different powers. What is a Durable Power of Attorney?Ī power of attorney, or attorney-in-fact, is a legal document that formally permits another person to make choices in your name. A dedicated estate planning attorney at Blasser Law can help you understand the function of a POA and establish a legal POA on behalf of yourself or another loved one who lacks capacity. Moreover, a POA is very important to ensure the care and safety of special needs individuals or anyone else who cannot make decisions on their own behalf. Every person over the age of 18 should have a POA designated in case of an emergency. Home > Estate Planning > Power of Attorney Power of AttorneyĪ durable power of attorney (POA) is a straightforward legal status to create and implement, but it can be vital if something unexpected occurs.
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