What is a durable power of attorney?

A durable power of attorney is a legal document in West Virginia estate planning law which grants someone else the authority to make decisions on behalf of another person. The document is commonly used when the principal (grantor of the power of attorney) is unable to make decisions on their own or if they become incapacitated. This document can also be used when the grantor wants to assign someone else to make decisions for them in the event of illness or other incapacity. The durable power of attorney will remain in effect even if the principal is considered mentally disabled, meaning that the decisions by the power of attorney will hold even if the principal is deemed unfit to make their own decisions. The principal can assign power of attorney to the agent of their choice and can control the extent of the power. The powers of attorney can be used to settle financial affairs, make health care decisions, sign legal documents, handle business affairs, or perform any other legal action that the principal would normally have the right to do. The durable power of attorney also ends when the principal dies. In that situation, the agent’s powers also end. Therefore, it is important to think ahead and prepare for the unexpected.

Related FAQs

How can I find the right probate attorney?
How can I transfer real estate without probate?
What is a charitable remainder trust and how does it work?
How can I protect my assets from creditors?
What is an estate distribution plan and how does it work?
What is an estate plan disclosure statement?
What is a special needs trust and how does it work?
What are the different types of estate planning documents?
How can I ensure that my pet is taken care of after my death?
What is an advance health care directive?

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