Durable Powers of Attorney
Durable Powers of Attorney. A power of attorney is an authorization allowing one individual (the agent or attorney-in-fact) to act on behalf of another (the principal or grantor) in legal or financial matters. This power may be a general one or it may be limited to only allow the agent to act in regards to specific matters. Typically, when a person becomes unable to make their own decisions (i.e. mental illness, comatose state, etc.) a power of attorney becomes ineffective unless it is a durable power of attorney. Only a durable power of attorney remains effective even when the grantor becomes incapacitated.
Powers of attorney can be very useful in planning for end-of-life decisions and designating specific individuals to manage your affairs in the event you become incapacitated. Taking care of these decisions now not only gives you peace of mind of knowing that your affairs will be managed according to your wishes, but also greatly reduces the possibility of a court ordered guardianship.
Give yourself the peace of mind of knowing that important financial and health care decisions will be made by those individuals you trust most.