There are multiple types of powers of attorney. People need different support in a variety of unique circumstances, including support with financial matters or with medical decision-making in an emergency.
For those concerned about major, long-term medical challenges, durable powers of attorney may be the best form of protection available. Older adults preparing for retirement and those dealing with chronic, terminal or progressive medical conditions are among those who made derive the most benefit from durable powers of attorney.
Understanding what sets these documents apart from other types of powers of attorney can help people make effective estate planning choices.
Durable documents persist during incapacitation
Standard powers of attorney lose their authority when the principal who signed the document dies or becomes permanently incapacitated. Durable power of attorney documents include additional language that ensures the authority granted to an agent or attorney-in-fact persists even when the principal experiences long-term or permanent incapacitation.
For those concerned about the loss of legal authority, medical care that violates their personal values or financial hardship in the event of an emergency or the worsening of their medical condition, durable powers of attorney can offer lasting peace of mind. Drafting durable powers of attorney can protect people from involuntary guardianship, financial losses and medical care that violates their personal morals.
Durable documents are an important inclusion in estate plans for those preparing for retirement or concerned about their medical issues worsening. Discussing medical and aging concerns with an estate planning attorney can help people craft powers of attorney that address all of their needs.
