What is a durable power of attorney?

A durable power of attorney is a document used in North Carolina trusts and estates law to appoint an agent to act on your behalf in the event you become incapacitated or otherwise unable to manage your own affairs. The document typically grants the agent broad powers to make decisions related to your financial, health care, and other legal matters. The difference between a durable power of attorney and a regular power of attorney is that a durable power of attorney remains in effect even after you become incapacitated. Without a durable power of attorney, if you become unable to make decisions for yourself, someone would need to go to court to get a guardianship or conservatorship to take over your affairs. However, if you have a durable power of attorney, the agent you appointed can step in and take over without court proceedings. To create a durable power of attorney in North Carolina, you must be of sound mind. You must also be 18 years of age or older and have signed the document in the presence of two witnesses. The people you appoint as your agent should be someone you trust to make decisions in your best interest. It is also important to review the document carefully and make sure it contains all the powers you would like to grant to the agent.

Related FAQs

What is a trust?
How do I appoint a guardian for a minor in an estate plan?
What is a trust account?
What is a revocable trust amendment?
What is a trustee’s duties?
What is a trustee?
What is a testamentary trust?
What is a business succession plan?
What is a living trust?
How do I set up a trust?

Related Blog Posts

Understanding the Basics of Trusts and Estates Law - July 31, 2023
Tips for Drafting Wills under Trusts and Estates Law - August 7, 2023
Guidance for Creating a Family Trust - August 14, 2023
What is a Testamentary Trust? - August 21, 2023
How to Name an Executor of Your Estate - August 28, 2023