Home Durable Power of Attorney Last Will and Testament Health Care Proxy The Living Will For more information, or to make an appointment for a free consultation, please call us at: 781-849-8485 Commonwealth Advisory Group Privacy Policy Terms of Use Web design by Carol Pentleton/The Digital Artist	Durable Power of Attorney If you become incapacitated and can't make legal or financial decisions for yourself, you need to appoint someone you trust to do that for you. This can be done by a document called a Durable Power of Attorney. The Durable Power of Attorney is a written document that allows someone you select to make legal and financial decisions on your behalf. Other than a Last Will and Testament, it is probably one of the most important documents that you can have. If you don't you could be faced with an expensive court proceeding to accomplish this. It is a written document that allows someone you select to make legal and financial decisions on your behalf if you are incompetent or are unable to make those decisions for yourself. Other than a will, it is one of the most important documents you can have. When signed, the person must understand the document and the powers that they are giving someone else. They must also be competent and of sound mind. If someone needs nursing home or long-term hospital care and needs to protect their assets, this document is imperative. You appoint an Agent, who is someone you trust, who would be responsible for handling legal and financial decisions and actions on your behalf. You would typically choose a back up, just in case the person you appoint cannot handle those matters for you. This is a very important document, so the person chosen as your Agent should be chosen wisely. A power of attorney goes into effect when you sign it and ends when you die or revoke or cancel it. If you cancel the document, this should be done in writing and copies should be given to anyone or any financial institutions on your behalf. Your agent will have the power to sell things on your behalf, buy things for you, and handle your banking if you are unable to perform on your behalf, your real estate and more. Basically, they would have the ability to do everything that you currently do yourself. This is not a substitute for legal advice. If you do not have anyone you trust to handle your legal or financial affairs, or if you fear your family might fight about your property and finances, you might want to seek legal counsel prior to executing the document. Many states require that the document be witnesses and notarized. Some states have specific regulations governing execution. However, it is strongly recommended that there are two witnesses, who attest to your signature, as well as a notary. These people will attest that you understood the document at the time it was written and that you understood it and were under no undue influence to sign it. Although not required in all states, it is strongly recommended that your Agent also sign, accepting the responsibility as your Agent. Their signature would also be witnessed and notarized.
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