All You Need to Know About Durable Power of Attorney
Granting a trusted person the authority to act on your behalf in the event that you become unable is the common legal process of power of attorney. There are three variations of this process: general power of attorney, limited power of attorney, and medical power of attorney. However, there are also durable powers of attorney that can be applied to certain situations. Understanding this inclusion to power of attorney law could better prepare you and your loved ones in the event of an emergency.
What Does Durable Powers of Attorney Mean?
General power of attorney grants someone the agency to act as your attorney-in-fact through a signed legal document that allows them to sell your home or car, open or close bank accounts, and make major medical decisions on your behalf. Durable power of attorney means their powers continue if you become mentally incompetent, incapacitated, or incapable of handling matters on your own. Mental incompetence is defined as a person who is incapable of communicating their decisions or lacks the mental ability to make informed decisions. This can be caused by mental illness, injury, or disease that results in coma, an unresponsive incapacitated state, or a permanent mental disability.
When Does Durable Power of Attorney Become Effective?
Durable power of attorney allows a power of attorney to continue to act in the best interests of the principal as soon as it is signed, or in the event that the principal becomes mentally incompetent. Essentially, durable power of attorney is the same as medical power of attorney except durable POA documents require specific language to authorize durability. For example, “This power of attorney shall not be affected by my subsequent disability, incapacity, or incompetence.”
Choosing a Durable Power of Attorney
Durable POA is a powerful document that should only be entrusted to someone who has your best interests at heart. However, if one person isn’t fully available to make all your important life decisions, you have the option to choose more than one agent. These agents and co-agents are usually family members, grown children, siblings, a spouse, or a close friend.
To help you better understand how to select a power of attorney, contact BCN Law Firm. With an established reputation for doing right by the people, business, and organizations of the Villages community, attorneys Wade Boyette and Heath Nailos use their knowledge of the client and firm understanding of the law to get results. Contact BCN Law Firm today for all your legal needs.
