Power of Attorney

A Power of Attorney is a legal instrument that is used to delegate legal authority to another person to make property, financial and other legal decisions for the person who signed the power of attorney.  A Power of Attorney can grant either broad legal authority or very limited authority.  Every adult should have a valid power of attorney in place so that affairs can be effectively handled should you become incapacitated, or in situations when you may not be able to act on your own behalf due to absence.

If you do not have a Power of Attorney and become unable to manage your personal or business affairs, it may become necessary for a court to appoint a guardian, conservator, or committee to make decisions on your behalf.  The power may be limited to a particular activity or general in its application, empowering one or more persons to act on your behalf in a variety of situations.  It may take effective immediately or only upon the occurrence of a future event.  A Power of Attorney may be revoked, but most states require written notice of revocation to the person named to act for you.

Most states permit a “durable” Power of Attorney that remains valid once signed until you die or revoke the document.  However, you should periodically meet with your lawyer to revisit a Power of Attorney and consider whether your choice of agent still meets your needs and learn whether developments in state law affect your Power of Attorney.