What is a durable power of attorney?

A durable power of attorney is a type of legal document used in estate planning law in Nebraska. It allows someone to appoint another person to manage their financial and legal affairs if they become incapacitated or are otherwise unable to do so. The person who is appointed, known as the “attorney-in-fact” or the “agent”, is usually a trusted family member, friend, or other close confidant of the person who grants the power. The person who is granting the power of attorney is known as the “principal”. The principal must be a competent adult, and is allowed to grant powers such as the ability to withdraw funds from bank accounts, sell property, purchase or exchange investments, and manage legal matters. It is important for the principal to explicitly say what powers are being granted in the document, in order to avoid any confusion or unintended consequences. It is also important to note that in Nebraska, a durable power of attorney is only valid if it has been witnessed or notarized, and that it is void if the principal revokes it or dies. The power of attorney only goes into effect after the principal is determined to be incapacitated. In addition, the principal is not responsible for any actions taken by the attorney-in-fact other than those explicitly stated in the document. For these reasons, it is important for anyone considering estate planning in Nebraska to understand the legal implications of a durable power of attorney. It is always recommended to seek advice from a qualified legal professional when preparing such a document.

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What is a durable power of attorney?

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