Durable Power of Attorney
A Durable Power of Attorney allows you to designate an agent, or agents - also known as an ‘Attorney In Fact’ - so that this designated person can handle certain financial, business, and estate planning affairs on your behalf. By the Power of Attorney being ‘Durable’, your designated agent will be able to carry out permissible tasks on your behalf even if you become incapacitated. The designated agent is usually one of your children or close family members. However, the designated agent does not have to be related to you; they can be a non-related professional such as an attorney, CPA, or advisor as well.
A Durable Power of Attorney allows you to designate an agent, or agents - also known as an ‘Attorney In Fact’ - so that this designated person can handle certain financial, business, and estate planning affairs on your behalf. By the Power of Attorney being ‘Durable’, your designated agent will be able to carry out permissible tasks on your behalf even if you become incapacitated. The designated agent is usually one of your children or close family members. However, the designated agent does not have to be related to you; they can be a non-related professional such as an attorney, CPA, or advisor as well.
A Durable Power of Attorney allows you to designate an agent, or agents - also known as an ‘Attorney In Fact’ - so that this designated person can handle certain financial, business, and estate planning affairs on your behalf. By the Power of Attorney being ‘Durable’, your designated agent will be able to carry out permissible tasks on your behalf even if you become incapacitated. The designated agent is usually one of your children or close family members. However, the designated agent does not have to be related to you; they can be a non-related professional such as an attorney, CPA, or advisor as well.