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Durable Power of Attorney: For When You Can’t Make Your Own Decisions
Have you been thinking of drafting a power of attorney document to help protect your interests and affairs in the event you become unable to handle them yourself? Did you know you can include a special provision within the power of attorney document which would keep the document in effect even after you have become mentally incompetent or medically incapacitated? This is called durable power of attorney and it’s a provision you should definitely consider if you want to ensure your affairs are handled by someone you trust.
The Various Types of Power of Attorney
There are several different types of power of attorney documents. The general power of attorney, which is the most popular, gives a person of your choice far-reaching authority to handle ALL of your legal, business and medical affairs when you are unable to do so. This could include banking transactions, purchasing life insurance and even accessing your safety deposit boxes.
The second type of power of attorney is known as the medical or health care power of attorney. This type of document allows you to appoint an agent to make difficult medical decisions on your behalf in the event you are unconscious, mentally incompetent or terminally ill.
A special power of attorney grants an agent of your choosing limited powers over your affairs in certain situations, but does not give that agent the authority to handle any affairs which you do not specifically list in the document.
All three of these power of attorney classifications are legally binding, but unless you have a durability provision in the power of attorney document, it could become void in the event you become mentally incompetent. For that reason alone, a durable power of attorney is usually the best way to go.
The Durable Power of Attorney
Quite simply, a “durable” power of attorney is any general, medical or special power of attorney which contains unique and special durability provisions. What this means is that if you become mentally unable to make your own decisions at some point, the power of attorney which is already in effect will remain in effect even after you can no longer make decisions for yourself.
Another option within the scope of durable power of attorney is to sign one “just in case” you become incapacitated. This will ensure that the power of attorney you sign will only give the agent you have designated power over your affairs after you have been declared medically incompetent by a doctor or medical professional.
Generally, the agent you choose in a durable power of attorney should be someone you completely trust to handle all of your affairs with due care. You can even appoint a secondary agent just in case the first agent you have chosen also becomes ill or incapacitated.
Regardless of the type of power of attorney you draft, it is always a good idea to include durability provisions. This will ensure that, even when you are unable to make your own decisions, they will fall on someone you trust rather than on a total stranger.