What is a durable power of attorney?

A durable power of attorney is a document used in estate planning law in California. It allows a person to choose someone else, known as the “attorney-in-fact” or “agent,” to make decisions for them in case they become incapacitated. This document is referred to as a “durable” power of attorney because it remains valid even after the principal’s mental incapacitation, death, or other disability. The person who creates the durable power of attorney is known as the principal. They can grant their attorney-in-fact the power to make business, financial, legal, and medical decisions on their behalf. The principal must specify in the document what powers they grant the attorney-in-fact. This document gives the attorney-in-fact autonomy to serve as the principal’s representative by executing contracts and other documents, managing their finances, and making decisions related to their health care. The durable power of attorney also allows the principal to specify when the authority of the attorney-in-fact begins and ends, such as when they become incapacitated. This document should be carefully drafted and should be signed in the presence of witnesses and a notary public. Without a durable power of attorney, the principal’s family would have to go through a court process to be appointed their representative. In conclusion, a durable power of attorney is a document used in California’s estate planning law to allow a principal to appoint an attorney-in-fact to make decisions on their behalf in case of incapacity. The principal must be very clear in the document on the powers they are granting the attorney-in-fact and when the authority begins and ends.

Related FAQs

What should I do if I suspect an invalid will?
What is a trust account and how does it work?
How should I select executors for my estate?
What is an estate freeze and how does it work?
What is the purpose of estate planning?
What is an estate tax return and why should I file one?
What is a living trust and how does it work?
What are the different types of estate planning documents?
What is a Living Will and how does it work?
What happens to my estate if I die intestate?

Related Blog Posts

Understanding Estate Planning Law: What You Need to Know - July 31, 2023
Developing an Estate Plan: A Guide for Families - August 7, 2023
Tax Planning Strategies for Estate Planning Professionals - August 14, 2023
The Basics of Estate Distribution and Taxation - August 21, 2023
Exploring the Benefits of a Living Will - August 28, 2023