What Makes A Power of Attorney Durable

“What Makes A Power of Attorney Durable”

A Power of Attorney is a valuable tool in your estate planning arsenal. This legal document allows you to grant authority to someone of your choosing to take action on your behalf.

You can use a Power of Attorney to give someone the ability to pay your bills while you’re on vacation for example, or to act on your behalf during a financial or real estate negotiation.

But unless the Power of Attorney is “durable,” it expires if you become incapacitated. This is an important point to remember because many people use Powers of Attorney specifically for the purpose of protecting against disability.

There are two basic types of durable Powers of Attorney: one that works for financial matters as outlined above and the other for health care decisions. In order for these documents to protect you if you are incapacitated, they must both be durable.

Then, should you become unable to handle your own affairs, the Durable Power of Attorney for finances would allow your appointed agent to handle your financial affairs for you. They can pay your bills, access your checking and savings and even continue to negotiate financial and real estate transactions on your behalf, if you so choose.

The Durable Healthcare Power of Attorney enables someone to speak on your behalf with regard to medical decisions, such as treatments or medications you may or may not want.

In order for a Power of Attorney to be useful when you need it, you also need to know why some institutions will not accept them. A Power of Attorney must be extremely comprehensive in order to adequately give authority to handle exactly the things your agent may need to take care of. Some institutions require that a Power of Attorney be on their own form. In addition, Powers of Attorney should be re-signed regularly as many institutions won’t accept them after a certain period of time (some insist that the Power of Attorney be no older than 6 months!). To learn more about Powers of Attorney and how to protect yourself in the event of incapacity, give us a call today.

Ask A Question,
Tell Us Your Situation, &
Get A Consultation

Required Fields*

Your Information Is Safe With Us.

We respect your privacy. The information you provide will be used to answer your question or to schedule an appointment if requested.

Our Practice Areas in Colorado Springs and Denver

At Hammond Law Group, we focus on helping Colorado families build strong, forward-looking estate plans that protect assets and preserve family harmony.

Real Clients, Real Reviews

Getting Started Has Never Been Easier — Attend a Workshop or Webinar

At Hammond Law Group, we believe that the foundation of good estate planning lies in knowledge and understanding. Our approach starts with education. Join our highly informative workshop on wills, trusts, estate planning, and more, where we provide you with comprehensive information to get you started in designing your personalized plan.

By attending our workshop or webinar, you not only … exclusive offer of a complimentary consultation with an experienced attorney
(a $500-750 value).

Our workshops fill up quickly so reserve your seat today.

Attend a Public Workshop

Your Experienced Estate Planning & Elder Law Advisors

We have a team-centered approach. While each client’s family works with one attorney, our attorneys regularly discuss the design of our plans with each other in order to ensure we’re doing everything possible to help you meet your goals.

In addition, each client works primarily with one paralegal, who gets to know you and your estate plan intimately through the design and
implementation process. The biggest complaint people have about
lawyers is lack of communication, and by working as a team we have
virtually eliminated this complaint for our clients.

Learn more about our family and then let us learn more about yours.

Meet Hammond Law Group Team

At Hammond Law Group, our estate planning attorneys work together to create meaningful, lasting estate plans for Colorado families. Each member of our team shares a commitment to personal connection, clear communication, and compassionate service.