A durable power of attorney gives you the authority to choose a person who will act on your behalf for legal and business matters. This person, called an attorney-in-fact, becomes your representative and can handle a range of responsibilities for you such as buying and selling property, managing bank accounts, filing tax returns, and applying for government benefits.
A general durable power of attorney can come into effect in case you are incapacitated, or it can take effect immediately if you wish. In case you become incapacitated, your family would have to go to court in order to gain access to your finances if you do not have a durable power of attorney.
The attorney-in-fact you appoint does not have to be a lawyer. Your chosen representative can be a close friend or family member whom you trust with your business and legal affairs. This person can have extensive or limited power to make legal decisions about your affairs. A durable power of attorney lasts a lifetime unless it is cancelled.
How to Obtain a POA
An attorney from John Onal and Associates can best help you plan and appoint someone for a general durable power of attorney. The POA must be drawn up specifically to ensure that your legal needs are being met. A lawyer can help draw up this paperwork so that it meets state requirements and conveys your wishes exactly. Likewise, a POA can be cancelled at any time. This can also be done through a lawyer, by drawing up a new document regarding the revocation of the previous agreement.