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What rights does a durable power of attorney have?
A durable power of attorney simply means that the document stays in effect if you become incapacitated and unable to handle matters on your own. ... If you haven't made durable powers of attorney and something happens to you, your loved ones may have to go to court to get the authority to handle your affairs.
What is the difference between a general power of attorney and a durable power of attorney?
Durable and General Powers of Attorney In a general power of attorney, the agent's powers to act for the principal terminate upon the principal's death or incapacitation, while in a durable power of attorney the agent may continue to act even after these events occur.
What is the purpose of a durable general power of attorney?
There are two kinds of durable powers of attorney: a durable power of attorney for finances lets you name someone to manage your financial affairs if you become incapacitated, and a durable power of attorney for health care allows someone to make medical decisions for you if you are no longer able to speak for yourself ...
What are the 3 types of power of attorney?
Types of Power of Attorney. There are different types of powers of attorney for different purposes. Some of the main types include: general, enduring, limited, healthcare, durable and springing, all of which will be explained here.
What is a general power of attorney?
A Power of Attorney (POA) is a written authorization to act on another's behalf in legal matters. ... A Power of Attorney can be general, giving the agent the authority to conduct any type of business on behalf of the principal, or specific, and limited to the transactions expressly outlined in the document.
What is the difference between a springing power of attorney and a durable power of attorney?
A springing power of attorney is called that because it springs into action if you become incapacitated. Durable power of attorney becomes effective as soon as you sign the document, and continues to be effective if you are incapacitated.
Is a durable power of attorney legally binding?
What Does a Durable Power of Attorney Do? The law defines two types of durable power of attorneys. Within the legally binding document signed outlining this appointment of an agent, it will list specifically what the individual can do and what he or she cannot do.
What can a power of attorney not do?
Because the agent can use the Power of Attorney to access your bank account and sell your property, do not give your Power of Attorney to anyone you do not trust with your money or property. It can be very difficult to get back money or property taken by the agent, because the agent usually has no money left to return.
Can durable power of attorney make decisions?
The Durable Power of Attorney for Health Care authorizes someone to make decisions about your health care. ... You can have both a Durable Power of Attorney for Health Care and a Financial or General Power of Attorney, and you can name a different agent for the purposes of each document.
Is a durable power of attorney responsible for debt after death?
Answer: Generally, the agent under a power of attorney is not liable for the debts of the principal unless the agent acted outside the scope of her authority. ... - Anyone who co-signs or guarantees a debt remains liable even after the death of the other debtor.
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