Durable Power Of Attorney

A Durable Power of Attorney is a signed document granting another person the authority to act as an Agent for you during your lifetime. It is called "durable" because it continues even after you become unable to make legal and financial decisions. Most Powers of Attorney, once signed, goes into effect immediately. However, you can still make all your own legal and financial decisions even if you have named someone else as your Agent.

Pennsylvania law mandates that a Power of Attorney document be signed by you, acknowledging that you understand that very broad powers being given to your Agent. Your Agent has the ability to act on your behalf and handle all of your financial affairs as if you were doing them yourself. Because you are giving your Agent so much power, your Agent must sign a document acknowledging powers that have been given to them. Your Agent must also promise to exercise these powers cautiously, to only act for only your benefit, not to combine their money with yours, and to keep accurate records of all of the activity that they undertake on your behalf. Because your Agent has so much authority over your finances it is important to pick an Agent that you trust completely and whom you know will handle your affairs appropriately.

If you have more questions about Durable Powers of Attorney and how one might be beneficial to you, contact an Estate Planning Attorney at the Quinn Law Firm.