Durable Power of Attorney: A Powerful Tool to Get Things Done

Power-of-AttorneySometimes we need someone we trust to fill in for us and act for us when we need to accomplish certain tasks and are not able to ourselves because of distance, age, disability, or even time.  A solution to these concerns as they arise is having a Power of Attorney written up and executed.  A Power of Attorney gives someone else the power and authority to act for you, sign for you, and enter into contracts or agreements for you.

To complete a Power of Attorney you must first select an agent to be given the powers and authorities you designate them to have in the Power of Attorney.  As with a Last Will and Testament you need to sign the Power of Attorney in front of two witnesses.  The powers given can be very broad or very specific and limited.  It is advisable that you meet with an attorney to decide how broad or limited the Power of Attorney should be depending on the agent you choose and especially the situation you would like to use the Power of Attorney.  You can even decide to limit the Power of Attorney by time and have it expire after a certain period of time, like when you return from a trip or time away, or will no longer need an agent acting for you.

At any time you can end or terminate the Power of Attorney.  However, it is always important to let your agent or agents know that you are terminating the Power of Attorney you have given them.  Also, it is advisable to inform any businesses, individuals, or others that are depending on your Power of Attorney in any way.  In many cases this is the only way to properly terminate the Power of Attorney you created unless it was built in with a time of expiration.  Also, the Power of Attorney will always expire no matter what at your death.  At the time of death, your Last Will and Testament and Estate rules and laws would apply and if you have a Last Will and Testament, See previous blog posts, and everyone should as explained there, then your Executor would take over and have powers to carry out your wishes written in your Last Will and Testament.

Feel free to contact our office if you would like further information about getting a Power of Attorney.

 

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