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A durable power of attorney, or DPOA, is a legal document that allows you to appoint an agent (also known as an attorney-in-fact) who can make financial and healthcare decisions on your behalf during times in which you may be unable to do yourself, such as in cases of illness or incapacity.
Your DPOA is an important component of your estate planning picture. As such, this should be someone who is trustworthy, understands you well and is discreet. Your estate planning attorney will help you navigate the decision-making process when you are choosing the best person for this role.
A DPOA may be called upon to make decisions in the any of the following areas:
- Your Finances: This could include bill paying, investment or real estate decisions and/or accessing your bank and other accounts.
- Your Healthcare: Depending on laws in your state or area, your estate planning legal team may have you create a separate healthcare power of attorney document. Your DPOA may also include healthcare decisions, with your agent having the authority to make them on your behalf. This is one of the many areas in which an experienced attorney will guide and advise you in your best interest.
- Your Legal Matters: Your agent may also be called upon to manage your legal matters, which could include things like executing legal contracts or acting as your representative in court.
Supporting You
We all know that life can be unpredictable and so much in our experience can be unexpected. No one likes to think too much about these possibilities, but illnesses, mental and/or physical incapacitation and accidents can and do happen.
Like other areas of estate planning, a DPOA is an important way of making sure your wishes and values are represented while also giving your loved ones the gift of clarity and direction. When it comes to planning for your future in a comprehensive, customized and legally responsible way, nothing beats having an expert legal team on your side. A good estate planning law firm is able to help you plan for the unexpected and ensure that your interests are protected even if you are unable to communicate them yourself.