Get the free FAQs for Durable Power of Attorney template

What is a durable power of attorney?

• A Power of Attorney is a written authorization where one individual grants another the authority to act on their behalf in legal or financial matters.
• The main difference lies in durability; a DPOA remains valid even if the principal loses capacity, whereas a regular POA does not.
• Choosing a DPOA ensures that your wishes are honored during incapacitation, providing peace of mind that your personal and financial matters will be managed according to your preferences.

Why is having a durable power of attorney important?

• A DPOA ensures that a trusted individual can manage your affairs when you cannot, safeguarding your financial and health-related decisions.
• With a DPOA, you select someone you trust to act on your behalf, rather than leaving the decision to the courts, which can lead to an unwanted situation.
• Without a DPOA, your loved ones may have to navigate a lengthy and complex legal process to gain authority over your affairs, causing delays and distress.

What are the consequences of not having a durable power of attorney?

• If you do not have a DPOA, the court may need to appoint a conservator to manage your affairs, which can be a lengthy process involving various hearings and costs.
• Court interventions can lead to additional legal fees and delays, complicating your affairs and potentially affecting the management of your assets.
• A conservator's actions may not always align with your preferences, leading to possible disputes among family members and stresses related to asset management.

How to choose your agent for a durable power of attorney?

• Look for someone who is trustworthy, responsible, and understands your values and preferences regarding financial and health decisions.
• Your agent's role comes with legal responsibilities to act in your best interest, managing your resources responsibly while following your wishes.
• You can appoint co-agents who can share responsibility, but be aware that disagreements between them can complicate decision-making.

What limitations can you set on the attorney-in-fact's powers?

• You can specify particular powers regarding financial, legal, or healthcare matters, ensuring that your agent acts within the boundaries you set.
• Clearly stating your desires in the DPOA can prevent confusion and disagreements later, ensuring your agent acts according to your beliefs.
• You may restrict your agent from making investment decisions, selecting specific types of medical treatments, or selling particular assets without your consent.

How to file and manage your durable power of attorney?

• Gather necessary information, choose your agent, state your preferences, and ensure the document is signed and witnessed according to state laws.
• Keep your DPOA document in a secure but accessible location, inform your agent and family members of its whereabouts, and store digital copies securely online.
• pdfFiller provides tools to edit, sign, and manage your DPOA efficiently, keeping your document organized and easy to access from any device.