A durable power of attorney is one of the least expensive, yet most important, documents any person can have. In fact, a durable power of attorney is so important, that no one should be without one.
A durable power of attorney allows you to choose who will manage your financial and personal affairs in the event that you become incapacitated or otherwise unavailable. Importantly, you can choose which trusted friend or family member to entrust with your affairs while you are mentally capable, and the power of attorney endures so that the person you named will make decisions on your behalf when you are no longer able. New statutory language that became effective in 2012 further protects your interests by requiring a signature of acceptance and by placing restrictions on the named agent. (See article, “New Durable Power of Attorney Requirements in Effect 10/1/2012,” on our website). If you do not name a durable power of attorney, you run the risk of having the court appoint a conservator to manage your affairs.
You owe it to yourself and to those who may be faced with making difficult decisions on your behalf, to have a durable power of attorney. It is one of the easiest and least expensive ways to protect yourself today against the uncertainties of tomorrow.