A Durable Power of Attorney is a document that you use to name a representative in the event that you become incapacitated. It allows your representative to make financial, business, real estate, and other decisions on your behalf while you are unable to do so.
Your representative in a Durable Power of Attorney is referred to as your attorney-in-fact or agent. You will need to list at least one agent, but you may choose to have more. You can also designate separate agents to act for you in different aspects of your financial life.
If you become incapacitated and do not have a Durable Power of Attorney, then a Guardianship will be needed to designate a representative who can act on your behalf. Guardianship proceedings are costly and time consuming, and you might not be able to name you own representative.
The Office of Debra G. Simms can assist you in preparing a Durable Power of Attorney so that you are prepared in the case of incapacity. Contact us today to get started.
