What is a Durable Power of Attorney?
A Durable Power of Attorney (DPOA) is a legal document in which an individual gives another individual (called the “attorney-in-fact”), the power to act on their behalf in certain circumstances. The individual (known as the “principal”) can specify the powers that they grant the attorney-in-fact, and the duration of those powers. This document is called “durable” because it remains in effect even if the principal becomes incapacitated. In Texas, a Durable Power of Attorney has specific requirements. The principal must be an adult (18 years or older) or a married minor, and must be of sound mind when making the document. The designated attorney-in-fact must be an adult and act in good faith at all times. The document must also be signed by two witnesses in the presence of a notary public. The power that the principal grants to the attorney-in-fact can be very broad, such as handling all of the principal’s financial affairs, or more limited, such as handling a single financial transaction. It can also stipulate what the attorney-in-fact must do, such as make decisions about the principal’s healthcare in the event that they become incapacitated. In Texas, powers of attorney are a critical part of disability planning. They can help ensure that an individual’s wishes are respected if they become unable to make decisions for themselves. It is important to consult with a qualified attorney before creating a Durable Power of Attorney to make sure it is properly created and fulfills the individual’s wishes.
Related FAQs
What is a long-term disability insurance policy?What is a Letter of Intent?
What rights do I have under the ADA?
What is the process of appealing a denial of disability benefits?
How can I find a disability lawyer?
What is a revocable trust?
What is the difference between a guardianship and a conservatorship?
What is Medicaid planning?
What are the legal requirements to qualify for disability benefits?
What is a protected trust?
Related Blog Posts
Explaining the Basics of Disability Planning Law - July 31, 2023Preparing a Comprehensive Estate Plan with Disability Planning Law in Mind - August 7, 2023
Creating an Estate Plan to Provide Financial Security for Individuals with Disabilities - August 14, 2023
Important Considerations When Drafting a Disability Planning Document - August 21, 2023
The Advantages of Working with a Disability Planning Lawyer - August 28, 2023