Power of Attorney

A Power of Attorney generally refers to the creation of an agency relationship whereby you (the principal) appoints another attorney-in-fact (the agent). Once appointed and effective, the attorney-in-fact is able to exercise the powers that you designate. These powers can be either broad or narrow, depending upon your circumstances and intent. For example, an agent may be authorized to:

  • Make health-care decisions for you or your minor children;
  • Buy or sell personal or real property;
  • Manage a business;
  • Collect debts;
  • Invest money;
  • Cash checks; or
  • Manage financial matters generally.

A Power of Attorney can take effect immediately or at some time in the future, i.e. a specific date or the occurrence of some event – for example, a certification by your doctor that you are unable to make decisions on your own, and last for a limited period of time or indefinitely. If a Power of Attorney remains in effect after the principal’s incapacitation it is called a Durable Power of Attorney.

Durable Power of Attorney

A Durable Power of Attorney generally refers to an agency relationship whereby you designate the attorney-in fact’s authority to become effective upon your inability to act for yourself; or you want the power of attorney to take effect immediately and to continue in effect if you become incapacitated.

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