Legal and planning
Durable power of attorney
A durable power of attorney is a power of attorney that stays in effect if the person who signed it becomes incapacitated. The person names an agent to make financial decisions. Without the word durable, many powers of attorney end when the person can no longer decide.
Why it matters for your family
Durability is the feature families need most. A regular power of attorney may stop working at the moment it is needed. The National Institute on Aging says a durable power of attorney for finances names someone to make money choices when you cannot, and it is best set up while the person can still decide. A common mistake is waiting until a parent has advanced dementia. By then the parent may lack the capacity to sign, and the family may face court guardianship. Some documents start at once, and others start only on a trigger. Ask a lawyer which fits. This is general information, not legal advice.
Source: nia.nih.gov
Read more: What is Elder Law and Do You Need an Elder Care Attorney?
Related terms
- Power of attorneyA power of attorney (POA) is a legal document in which one person, the principal, names another person, the agent, to act for them.
- Medical power of attorneyA medical power of attorney is a legal document that names someone to make health care decisions for you if you cannot.
- Healthcare proxyA healthcare proxy is a person you name to make medical decisions for you if you cannot speak for yourself.
- GuardianshipGuardianship is a legal process in which a state court finds a person incapacitated and appoints someone else to make decisions for them.
- Capacity assessmentA capacity assessment is an evaluation of whether a person can make a specific decision, such as signing a legal document or agreeing to treatment.
- Elder law attorneyAn elder law attorney is a lawyer who focuses on legal issues of older adults.
