A durable power of attorney is a document that allows you to name someone you trust to “step into your shoes,” so to speak, should you become unable to handle your affairs on your own, either due to mental or physical inability to do so. This person is then called your “agent” or “attorney-in-fact.” A durable power of attorney is only effective during your lifetime. You can also name someone to handle specific business transactions, like a real estate purchase or sale. This is called a limited power of attorney. Each state has requirements for these documents. If you are considering creating a power of attorney, you should consult an attorney to discuss the benefits of doing so.
-Emily A. Helmick, Esq.