Durable Power of Attorney
A durable power of attorney is a legal document in which one individual gives another individual, called the “attorney-in-fact",” or “agent,” legal authority to act on the principal’s behalf for medical and/or financial decisions in the event of illness or a sudden catastrophic event. When an individual names an attorney-in-fact, one may specify how much power the agent has, or over which specific issues the agent is given authority. While a power of attorney is commonly used to enable an agent to care for an individual’s affairs when he/she has become mentally incapacitated, this device may be helpful in any number of situations. A durable power of attorney is important and necessary to protect and preserve assets and prevent the necessity of a guardianship proceeding, which can be time consuming and costly.
A Living Will is a set of instructions for your power of attorney to provide guidance of your wishes in the case of a terminal illness or persistent vegetative state and death is imminent. A completed Living Will is a valuable component of your estate planning package.
This website is for informational purposes only. Using this site or communicating with Baddour Law Firm through this site does not form an attorney/client relationship.
Copyright © 2018