Planning for unfortunate events like serious illness or injury is rarely on anyone’s list of favorite pastimes.
From time to time, however, enduring the little discomfort that will accompany getting ready for the sudden will prevent undue misery on the part of your loved one’s members and friends.
Power of Attorney Defined
A Power of Attorney is a document where you (as the “Primary”) allow somebody else (the “Agent” or “Attorney-in-fact”) to act legally in your behalf.
The Power of Attorney can be restricted to very specific actions that the Agent is licensed to take for your benefit.
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The “Durable” Power of Attorney
The importance of having a “Durable” Power of Attorney is best understood if you understand what can occur with the plain old garden range of Power of Attorney.
A Matter of benefit
The Durable Power of Attorney is often utilized as an issue of convenience.
Suppose, by way of instance, you have your house listed for sale. You also have proposed a long-awaited trip to see Aunt Trixie at Deadwood, South Dakota, and you’re worried that an enthusiastic buyer could come along as you’re on the street.
A Durable Power of Attorney will be handy here in order to appoint someone you trust to act in your absence to negotiate the purchase and sign any records which essential to create the bargain are binding.