State Laws Regulating Durable Powers of Attorney
Most states recognize Durable Powers of Attorney. However, like Durable Powers of Attorney for Healthcare, the laws in each state vary. Each state has their own requirements and limitations. Some states recognize that a Durable Power of Attorney will take effect immediately upon execution. This means that you should be extremely careful before you draft this document and have it executed.
Often, states will recognize a Springing Durable Power of Attorney, which has very specific limitations on the time that this Durable Power of Attorney can take effect. These may not be available in all states, but they should certainly be carefully considered. Usually these Springing Durable Powers of Attorney are created to take effect, only upon the happening of a specific event, such as incapacity. It is called "springing" because it "springs into effect" when the event(s) specified in the document have occurred. You should consult your attorney to see if this is necessary for your situation.
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