A Durable Power of Attorney is similar to a Durable Power of Attorney for Healthcare. The main difference is that the Durable Power of Attorney for Healthcare limits your agent to making decisions for you about your medical treatment and related matters. An agent designated in a Durable Power of Attorney for Healthcare would generally be prohibited from making decisions regarding any of your other business affairs.

For example, a Durable Power of Attorney for Healthcare cannot designate an agent to sign for a loan to help your family make mortgage payments during a temporary incapacity. A Durable Power of Attorney may, if you so choose, confer upon your designated agent the power to sign such a loan.

The Durable Power of Attorney and the Durable Power of Attorney for Healthcare are created by you, in advance of any problems, or any expected problems, to designate an agent who can make certain decisions for you in the event you become incapacitated.

These decisions can be specific and limited to certain acts, or they can relate to all of your affairs, whatever legal matters may arise. For the same reasons mentioned above regarding a Durable Power of Attorney for Healthcare, one should be very careful about whom one selects as an agent, and what powers are conferred on this agent. Remember, in most cases, this agent will have authority to write checks and/or transfer money from your bank accounts. Obviously, the person designated should be extremely trustworthy.

If you have any questions about the different types of Powers of Attorney, or if you would like to draft your documents, please feel free to contact Member Services to be paired with an attorney. We’re here to help you.