What is Power of Attorney?
Granting power of attorney, or letter of attorney, simply gives somebody else full control to act as your agent. This letter is written authorization for this person to be in full control to perform a single or multiple acts, depending on what is necessary. To have power of attorney, one must be at least 18 years old and this person is generally closely related to the person for whom they are acting the agent. This allows the individual to make the best possible decisions for that person.
A power of attorney is in effect for however long is necessary; however, if the individual becomes incapacitated, he or she no longer holds the title of power of attorney.
What is a Durable Power of Attorney?
Granting durable power of attorney has one small difference from a basic power of attorney. By giving and individual “durable” power of attorney, this person will continue to hold the power of attorney in the event that he or she becomes incapacitated. If the word “durable” is not placed in front of “power of attorney”, then the individual that becomes incapacitated is no longer allowed to act as a power of attorney.
What does it mean to be Incapacitated?
According to the online business dictionary, to be legally incapacitated is when a person is temporarily or permanently impaired by mental and/or physical deficiency, disability, illness, or by the use of drugs to the extent he or she lacks sufficient understanding to make rational decisions or engage in responsible actions.
