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A durable Power of Attorney remains in effect even if you become disabled.
If you don't have a durable power of attorney, it's important to not delay filling out a durable power of attorney form until it's too late. No one likes to think about an unfortunate event occurring, but none of us are bulletproof, and investing a matter of minutes now in completing a power of attorney template can avoid major problems down the road for yourself and loved ones.
There are many benefits to completing a sample of durable power of attorney form. By appointing a trusted person as your agent, also called the attorney in fact, you can save your family and loved ones the time, expense, and delay of setting up a guardianship to handle your affairs if you become incapacitated. A general power of attorney can assure that your business affairs will continue uninterrupted, bills will be paid timely to avoid foreclosure, and other adverse creditor actions are avoided. The following will examine some of the important things you need to understand about a durable power of attorney.
A power of attorney, or POA, is a document that allows you to appoint another person to act as your agent to handle your affairs, according to the authority specified in the form. A durable power of attorney form contains language stating that your agent's authority will remain effective despite your disability or incapacity. Any type of power of attorney form should state how long the agent's authority remains effective. Some states assume that they're durable unless the forms state otherwise. However, any type may be revoked by its maker and will become void when the maker dies. In order to create or revoke a power of attorney, the creator, also called the grantor or principal, needs to have legal capacity to understand the nature of the document and the authority being granted or revoked. Once a person is physically or mentally incapacitated and no longer capable of knowingly signing a power of attorney template, it is often necessary to go through an expensive and burdensome process to petition the court for guardianship.
State power of attorney laws vary. Whether you need a Texas statutory durable power of attorney form, a durable power of attorney for California, or a durable power of attorney in Florida, US Legal Forms offers state-specific forms that comply with the laws of your state. Many general power of attorney templates offered online are generic and not kept up to date with legislative changes, so beware.
The following terms are important for understanding how to create a power of attorney and what type you need: