Durable Power of Attorney

Power of Attorney and Durable Power of Attorney are legal tools, along with Guardianship and Conservatorship, for the delegation of decision-making authority to a third-party—usually a family member.

There are two significant differences between Powers of Attorney and Guardianship or Conservatorship. Our elder law lawyers can help you decide whether a Durable Power of Attorney or a Conservatorship is the best option for your specific family situation. Please contact our office to speak to an attorney.

• Powers of Attorney require the agreement of both parties. The beneficiary of care must be legally competent to enter into the agreement; he or she must have the mental capacity to understand the agreement.
• There is no court involvement in Powers of Attorney, as there is in Guardianship and Conservatorship. There is no required paperwork or reporting to the court. The relationship is established with the signing of paperwork.

There are two forms of Powers of Attorney: durable and time-limited. A Durable Power of Attorney continues to be in effect even if the beneficiary becomes incapacitated and it lasts until death. A non-durable Power of Attorney is no longer in effect if the beneficiary becomes incapacitated.

Powers of Attorney grant decision-making authority for specific types of decisions. A properly executed Durable Power of Attorney will allow a family member to manage:

• Financial matters, such as the ability to sign checks, make deposits, pay bills, manage financial and business affairs, conduct retirement planning, sell property, obtain insurance, manage investments, pay taxes
• A Durable Medical Power of Attorney gives decision-making authority for health care issues, such as the ability to complete medical forms, contract for medical or professional services, and to authorize a move to a nursing home, hospital or long-term care facility

One of the potential benefits of a Durable Power of Attorney is its informality. Yet the formal court involvement in Guardianship or Conservatorship can also be as a benefit if it assures family members that the financial affairs of the incompetent individual are being handled properly.

Every family’s situation is different. Let our experienced attorneys help you determine if Power of Attorney, Durable Power of Attorney or Conservatorship or Guardianship would be the best option for your family member. Contact our office to speak to a lawyer.