A durable power of attorney is an integral part of estate planning. This document helps to avoid the time and expenses that often fall on family members when someone is no longer able or willing to handle their financial matters.
An experienced lawyer with Amity Law Group could help to prepare and present a durable power of attorney document in Covina. Call today to speak with a skilled POA attorney.
The Importance of a Durable Power of Attorney
A durable power of attorney is a document that an individual (known as the principal) puts in place that names someone else (known as the agent) to handle their finances should they become unable to do so. The agent, often a trusted family member or friend, is legally bound to act in the best interest of the principal and manage their affairs responsibly.
This document is ‘durable’ because it remains in place even when the principal becomes incapacitated, allowing their named agent to manage their affairs without interruption. Depending on the provisions of the durable power of attorney, the document can cover a wide range of financial, legal, or even healthcare decisions that must be made on the principal’s behalf, such as managing their bank accounts, paying bills, or making medical treatment decisions.
A durable power of attorney can help protect a person’s interests even if they are no longer physically or mentally able to act on their own behalf. Other powers of attorney terminate if the principal can no longer act, meaning that the very decisions that the principal needed the document for in the first place can no longer be made by their agent.
Without a power of attorney in place, family members and friends of the principal can be forced to spend money and time to have the court appoint a conservator. The principal will not have a say in who that conservator is.
It should be noted that while a durable power of attorney is not terminated due to the principal’s incapacity, it can be terminated at any time if the principal chooses to do so, as long as they have the mental capacity to make that decision.
Who Can Be Your Durable Power of Attorney Agent?
A durable power of attorney agent in Covina can be anyone at least 18 years old with the mental capacity to sign the document. However, it is essential that the principal chooses someone they like or trust, as this will provide a sense of security and peace of mind.
How Can an Estate Planning Lawyer Help With a Durable POA?
A Covina estate planning lawyer could draft a durable power of attorney, ensuring that the document complies with state requirements and accurately reflects which decisions the principal wants their agent to have the authority to make.
They could address specific issues that the principal may not have thought of on their own, ensure compliance with relevant state laws, and explain the legal implications of the document.
For a Durable Power of Attorney in Covina, Contact Amity Law Group
A knowledgeable lawyer is critical in helping individuals identify their estate planning goals and draft the necessary documents.
When you or a loved one needs legal support developing a durable power of attorney in Covina, contact the legal team at Amity Law Group. Our dedicated estate planning attorneys are here to help you.
