What is a durable power of attorney?

A durable power of attorney is a type of legal document that is used in the state of South Carolina. It allows an individual - who is referred to as the principal - to appoint someone else - referred to as the agent - to make decisions on their behalf. The durable part of this document means that it remains in effect even if the principal becomes incapacitated. This makes it different from a regular power of attorney, which is only valid when the principal is mentally competent. In South Carolina, the durable power of attorney can be used in many aspects of trust and estate law. This could include signing documents, managing assets and finances, accessing bank accounts, and making medical decisions. The principal must specify which powers the agent will have, and the document must be signed by both the principal and the agent in addition to being witnessed by two other individuals. In some cases, the durable power of attorney may be revoked by the principal if they are of sound mind. But if this isn’t possible, the document can only be revoked by a court order. It’s important to be sure that you trust the person you’re appointing to act on your behalf, since they will have complete control over your decisions. This is why it’s important to talk to an experienced attorney before signing anything.

Related FAQs

What are the types of trusts?
What is a living will?
What are the benefits of establishing a trust?
What is a trust amendment?
What is a trust agreement?
What is a business succession plan?
How do I fund a trust?
What is a grantor?
What is a spendthrift trust?
What is a trust?

What is a durable power of attorney?

Related FAQs

Related Blog Posts