Durable Power of Attorney

What is a Durable Power of Attorney?

A Durable Power of Attorney (DPOA) is a legal document that allows you to appoint a trusted person, known as your agent or attorney-in-fact, to manage your financial and legal affairs if you become incapacitated or unable to make decisions.

Unlike a standard Power of Attorney, which may become invalid if you become incapacitated, a Durable Power of Attorney remains in effect, ensuring that your financial matters are handled without the need for court intervention.

Why Do You Need a Durable Power of Attorney?

Many people assume their spouse or family members can automatically take over their finances if they become incapacitated. Unfortunately, without a Durable Power of Attorney, your loved ones may have to go through a lengthy and expensive court process to gain authority over your financial affairs.

A Durable Power of Attorney ensures that:

✅ Your finances are managed if you become incapacitated
✅ Your loved ones avoid costly and time-consuming legal proceedings
✅ Your estate plan functions smoothly during emergencies
✅ Someone you trust is in control of your financial and legal decisions

What Can an Agent Do Under a Durable Power of Attorney?

The powers granted under a Durable Power of Attorney can be customized to meet your needs. Common responsibilities include:

🔹 Paying bills and managing bank accounts
🔹 Handling investments and real estate transactions
🔹 Filing taxes and handling financial matters
🔹 Applying for government benefits (Social Security, Medicare, VA benefits, etc.)
🔹 Managing business interests

How Does a Durable Power of Attorney Work?

1️⃣ Choose an Agent – Select a trusted individual (spouse, family member, or friend) to act on your behalf.
2️⃣ Define Their Authority – Specify what powers they have over your finances and legal affairs.
3️⃣ Ensure Durability – Unlike a standard POA, a Durable Power of Attorney remains valid even if you become incapacitated.
4️⃣ Put It in Writing – A properly drafted and signed DPOA is legally binding and enforceable.
5️⃣ Use as Needed – Your agent can step in when necessary, helping manage your affairs smoothly.

Does a Durable Power of Attorney Expire?

A Durable Power of Attorney remains in effect until your death, unless:

You revoke it while you are mentally competent.
A court determines your agent is acting improperly.
The document has a specific expiration date (if you choose to include one).