What is a durable power of attorney?

A durable power of attorney is a legal document that is used in North Carolina to give a trusted person the authority to act on behalf of another person, known as the principal. This type of power of attorney is often used in probate law. It typically grants someone the authority to manage the principal’s finances, real estate, healthcare decisions, and other matters the principal might not be able to attend to themselves. The document is called “durable” because the authority in it remains in place despite the principal’s mental or physical disability. Usually, the principal appoints someone they trust, like a spouse, family member, or friend, as the “attorney-in-fact.” That person is allowed to manage the principal’s finances and property and make any decisions that the principal has given them authority to make. It is important to be aware that durable powers of attorney are not the same as advance medical directives, which allow a person to make decisions about their healthcare when they are incapacitated. It is important to have both of these legal documents in place, as they can be of great assistance to families during difficult times.

Related FAQs

What are the requirements for a valid will?
What is the purpose of probate?
Who pays for the cost of probate?
What is an administrator?
How are assets valued for probate?
Are there any special rules for estate taxes?
What is the difference between executor and administrator?
What happens if an estate cannot pay its debts?
Are there special probate rules for minors?
Does an executor have the authority to sell real estate?

What is a durable power of attorney?

Related FAQs

Related Blog Posts