What is a Durable Power of Attorney?
A legal document appointing an agent to make decisions for you regarding business and financial matters if you are unable to make or communicate such decisions for yourself.
Doesn’t an Executor or Personal Representative in a Will do the same thing?
No – a Will takes effect only when you die. The person you name in your Will can handle your affairs after you die, not during your lifetime even if you are ill or incapacitated.
What does the Durable Power of Attorney Cover?
Any decision that must be made regarding your business or
financial matters, including selling or leasing real estate, signing legal documents, paying bills, etc.
Where do I keep it after it is signed?
Keep the original in a safe place where your agent will know where it is and have easy access to it. It is a good idea to give your Agent a copy.
To whom should I give copies?
Your bank, financial planner and any other place that the document may need to be used.
