What Is A Durable Power Of Attorney?

by Bruce Givner on October 25, 2011

A power of attorney is a document by which you give a trusted third person the power to act on your behalf. For example, you might be in the process of buying a home, and yet you’re traveling out of the country before the escrow closes. You might give a power of attorney to your brother or sister to sign any papers that come up at the last minute as necessary to complete the transaction. The person to whom you give the power of attorney is your agent, and you are the principal.

A power of attorney normally terminates when you become incompetent or dead. However, a durable power of attorney remains effective even if you become incompetent. The need for a durable power of attorney became apparent back in the 1970s when Karen Ann Quinlan got injured in a car crash, and her parents wanted – after years of suffering – to be able to discontinue life support. They fought for years in the courts until, in 1976, they won that right in the New Jersey Supreme Court. States then started passing laws to permit the durable power of attorney so that people can authorize others to make healthcare decisions for them in similar tragic situations. Now we can use durable power of attorney both for healthcare decisions and for asset management decisions. Contact Givner & Kaye for all your estate, tax planning and asset protection needs. www.GivnerKaye.com (310) 207-8008

{ 3 comments… read them below or add one }

Tiger October 27, 2011 at 8:22 am

This website makes things hella easy.

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Boss October 29, 2011 at 9:35 pm

At last, someone comes up with the “right” answer!

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admin October 30, 2011 at 12:10 pm

Boss did you have any questions?

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