A power of attorney happens when you authorize someone to act in a wide range of matters. This can be legal, financial, or medical. You can restrict the powers by having only a medical or financial power of attorney (also called a limited power of attorney). But what does it mean when you want a Durable Power of Attorney?
A durable power of attorney (DPOA) continues even if you cannot make decisions for yourself. Whether in an accident and temporarily in the hospital or your mental capacity has declined, the DPOA can ensure your affairs are still being taken care of.
A person you name as your durable power of attorney can:
You must have a significant amount of trust in the person who can make these changes on your behalf. Having someone who knows what you want in different situations will help eliminate confusion and uncertainty when family members have to make difficult medical decisions. Working with an experienced estate planning attorney will help ensure the DPOA is properly established.
Besides a durable power of attorney, you will also want a health care directive. This states exactly what level of medical care you desire. It allows one person to speak with the doctors and medical staff concerning your wishes.
Since choosing the right person to be your DPOA can be difficult, you can name more than one person to take care of your affairs. You can name multiple agents as a stand in for your power of attorney. One person can direct healthcare decisions. Another person can handle financial matters.
Suppose it turns out that you want to change who you have named for your durable power of attorney. In that case, you are still able to end the initial POA. You should notify in writing all places that have your information on file.
An Illinois estate planning lawyer can help you create a durable power of attorney. Consulting an experienced probate, trust and estates attorney in Chicago or Lombard can give you protection and peace of mind. Contact the Estate & Probate Legal Group at 630-864-5835.