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A durable power of attorney (DPA) is a legal document giving a trusted individual the rights to make legal and/or financial decisions for another person. Someone may wish to appoint a durable power of attorney if he or she cannot or will not be able to handle such decisions and matters on his or her own. It is typically used when a person in incapacitated or otherwise unable to manage one's own affairs.
Durable Power of Attorney (DPA) gives a person the authority to make legal and/or financial decisions for another person. This person may be a relative, lawyer or friend. This power may be immediately active or activated when that person loses the ability to make decisions for herself/himself. Durable Power of Attorney is typically used when a person is incapacitated or cannot make appropriate decisions.
Choosing the right family member, trusted friend or professional is important since it can be similar to signing a blank check. A Durable Power of Attorney is allowed to grant any of the following powers:
Even after appointing a Power of Attorney you may continue to make legal and/or financial decisions for yourself. The person you appoint for this responsibility only a representative who has the power to conduct important matters. As long as you have the capacity to make informed decisions, you may direct your Agent and have things done the way you want. You may also monitor your Agent by asking them to keep accurate records of all completed transactions. You may also revoke your Power of Attorney at anytime by notifying your Agent and notifying financial institutions.
Consulting a Lawyer can get you the legal advice you need about the powers that are appropriate and delegated. A lawyer may also provide counseling and outline the Agent's legal obligations. A Estate Planning Lawyer also ensures that the Power of Attorney is properly executed and meets all specified legal requirements. If you feel that the Agent you appointed is misusing a Power of Attorney, consider asking a lawyer for help and advice on how to deal with this issue.
Choosing the right person to trust as your durable power of attorney is important, as they will be conducting your most important affairs. Consulting a wills and estate planning lawyer can greatly help you in all matters pertaining to a durable power of attorney. A lawyer will help ensure you are making the right decision, and will give you proper advice about which powers are appropriate and delegated.
The person you appoint to hold this power (your "agent") may begin assisting you as soon as the power of attorney is signed. As long as you still have the capacity to make informed decisions, you can direct and monitor your agent to ensure he or she is carrying out all tasks the way you want. Should you feel your agent is misusing the power or otherwise is not the right candidate, a lawyer can help you revoke the durable power of attorney.
Once you lose the ability to make informed decisions for yourself, a lawyer can ensure your chosen agent is fulfilling their legal responsibilities and executing your durable power of attorney correctly. A wills and estate planning lawyer will help counsel your agent to ensure he or she is meeting all legal requirements and obligations.
Attorney Search Network can assist you with finding a lawyer who handles Durable Power of Attorney cases. If your appointed Agent is failing to manage your property, finances, etc, we will help you find the right lawyer.
If you have any questions about the information provided above, please contact us. Call us toll free at (800) 215-1190 or fill out out online form for your Wills and Estate Planning lawyer referral.
If you have any questions about the information provided above, please contact Attorney Search Network.
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