Did you know that you can appoint someone to make decisions for you if you ever become incapacitated? This person is known as your durable power of attorney.
A durable power of attorney is a legal document that allows someone you trust to make decisions on your behalf if you can’t make them yourself. This includes decisions about your finances, healthcare, and living arrangements.
In this post, we’ll explain what a durable power of attorney is, who can be appointed as your agent, and how to get one.
What Is Durable Power of Attorney?
A durable power of attorney is a legal document that designates someone you trust to make decisions for you if you’re unable to do so yourself. This person is called your agent and they can handle a wide range of day-to-day matters on your behalf, such as paying bills, managing your finances, and appointing doctors or caregivers.
The best part is that a durable power of attorney can be in effect while you’re still alive and able to make your own decisions. It’s an important document to have in case of an emergency or if you ever become unable to take care of yourself.
What Are the Benefits of Having Durable Power of Attorney?
There are a number of benefits to having a durable power of attorney in place. First and foremost, it ensures that someone you trust has the authority to make decisions on your behalf if you’re unable to do so yourself. This can be especially helpful if you become incapacitated or experience a sudden health emergency.
Additionally, a durable power of attorney can help you avoid probate court, which can be costly and time-consuming. When you die, your estate will need to be probated in order to ensure that your assets are distributed according to your will. However, if you have a durable power of attorney in place, your representative can handle this process on your behalf.
How to Get Durable Power of Attorney
So you understand what Durable Power of Attorney is and what it can do for you, but how do you get it?
Getting durable power of attorney is relatively easy. You can go through an attorney or a financial planner, or you can fill out the paperwork yourself. The easiest way to do it is online. There are a number of websites that offer Durable Power of Attorney forms for free.
Just be sure to choose a site that offers a durable power of attorney form specifically designed for your state. And once you have the form, make sure to read it over carefully and fill it out completely. Don’t forget to have your signature notarized!
What to Do With Durable Power of Attorney
Once you have a Durable Power of Attorney in place, it’s important to know what to do with it. Here are a few tips:
1. Keep your Durable Power of Attorney with your important legal documents. This will ensure that it’s easy to find in case you need it.
2. Give a copy of your Durable Power of Attorney to your loved ones. This will ensure that they know who to contact if something happens to you and they need to act on your behalf.
3. Keep your Durable Power of Attorney up-to-date. Make sure to review and update it regularly, especially if your health or financial situation changes.
How to Revoke Durable Power of Attorney
There may come a time when you want to revoke durable power of attorney. Maybe the person you named as your representative is no longer able to act on your behalf, or maybe you simply don’t want them to anymore. Whatever the reason, it’s important to understand how to revoke durable power of attorney in order to protect yourself and your assets.
The process of revoking durable power of attorney is relatively simple. All you need to do is send a written notice to the representative informing them that you are revoking their authority. You should also send a copy of the notice to any other parties who may be affected by the revocation.
Durable Power of Attorney FAQs
FAQs about Durable Power of Attorney:
Q: What is Durable Power of Attorney?
A: Durable Power of Attorney is a legal document that allows you to appoint someone you trust to make decisions on your behalf if you are no longer able to do so yourself. The person you appoint is known as your “attorney.”
Q: What happens if I lose the ability to make my own decisions?
A: If you lose the ability to make your own decisions, your attorney will be able to step in and make decisions on your behalf. This includes making medical decisions, financial decisions, and any other decisions that need to be made.
Q: What if I change my mind and want to take back control of my life?
A: You can always revoke or change your Durable Power of Attorney at any time. Simply contact your attorney and let them know that you would like to make changes.
If you’re looking to get durable power of attorney, then you need to make sure that you know what that means for you and your loved ones. Make sure to consult with an attorney who can help you understand the process and what you need to do in order to make sure that your wishes are carried out.