IS THERE A DIFFERENCE BETWEEN DURABLE & GENERAL POWER OF ATTORNEY?
A General Power of Attorney ends the moment you become incapacitated. A power of attorney is an effective legal tool in any number of circumstances, including helping shoulder the legal responsibilities of a loved one. But it isn’t suitable for a variety of important end-of-life decisions because of its lack of durability under duress.
When a power of attorney is Durable, that means there’s language within the document which states an agent’s authority continues to apply if you become incapacitated. There is no automatic deadline by which these powers expire. A Durable Power of Attorney stays effective until the principle dies or until they act to revoke the power they’ve granted to their agent.
Whether you use a general or special power of attorney, durable or not, it’s important to have one in place. And it’s a good idea to revisit annually to ensure everything remains in order.
Important to know is the fact that a Power of Attorney be it general or durable:
- A Power of Attorney provides for designation of one Agent. (If you wish to name more than one Agent, you may name a Co-Agent in the Special Instructions).
- Co-agents if designated are not required to act together unless you include that requirement in the Special Instructions.
- If your agent is unable or unwilling to act for you, your power of attorney will end unless you have named a successor agent.
- You may also name a second successor agent.
If you have questions about Power of Attorney or the Authority you are wanting to grant or have grant to your Agent, you should seek the advice of legal counsel.
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