Durable Powers Of Attorney

An important document that many people are unaware of is known by its rather opaque title: Durable Power of Attorney. Power of attorney is a legal instrument that gives another person legal authority to act on your behalf.

The Power Of A Power Of Attorney

A power of attorney may be granted for many diverse reasons. It may be used for a single transaction. If you were in the military and were deployed overseas for an extended period, you could give someone a power of attorney to execute a land transaction that would occur during your absence.

Alternatively, a power of attorney may provide for a much broader scope, authorizing someone to look after your financial affairs for an extended period. In most cases, a power of attorney will expire if the grantor is incapacitated.

Why You Want A Durable Power Of Attorney

Because of this, for estate planning purposes, a durable power of attorney is typically created. This allows your spouse or a trusted family member to handle all of your affairs in the event of your incapacity. It works in combination with an advance health care directive, or living will.

In this case, a representative will act on behalf of the incapacitated person to make decisions, which could include paying your bills, managing your investments or property and end-of-life care. A durable power of attorney may be invoked by any incapacity.

Incapacity May Occur At Any Time

While many young people may believe such a document is unnecessary, with the frequency of car crashes in Florida or the rare but not impossible occurrence of a stroke, anyone could suffer an incapacitating condition, no matter their age.

A durable power of attorney is a valuable legal instrument and should be included with any comprehensive estate plan. It provides peace of mind by ensuring your affairs will be handled with a seamless transfer of authority.

Contact Our Firm

Discover more about these estate planning tools by contacting our lawyer in Davie at 954-380-8778 or by emailing Sobi Law Group, P.L. your information.