One of the most important documents a person can ever have is a Durable Power of Attorney. A Durable Power of Attorney permits a person to clearly define ahead of time your wants and wishes regarding financial and/or healthcare treatment in the event a person becomes incapacitated or disabled. A Durable Power of Attorney can provide peace of mind knowing that a person of your choice has been chosen to carry out your affairs when you are unable to do so. The person to whom the individual delegates power, known as the attorney in fact, is required to use the individual’s money only for the individual’s benefit. The fact that the individual has signed the Power of Attorney does not interfere with that person’s right to handle matters for him or herself, as long as you are able to do so.
A Durable Power of Attorney is extremely helpful if a person is temporarily hospitalized or traveling and will be away from home for some period of time or for any other reason a person is unable to perform their own payment of bills or banking. Furthermore, a Durable Power of Attorney may be a better alternative than adding someone’s name to an individual’s bank account because with the Power of Attorney, another person can handle a persons money without having an interest in it.
An attorney in fact can help a person obtain all the benefits he or she is entitled to by making claims and applications on their behalf. More importantly, a Power of Attorney can be revoked quickly. In all, a Power of Attorney is a very inexpensive tool that has extremely valuable benefits.
