A durable power of attorney (POA) is a document that allows the principal, the person creating the document, to give someone else, known as the agent or attorney-in-fact, the authority to make decisions on their behalf. This authority may extend to medical, financial, and legal decisions and is valid if the principal becomes incapacitated and cannot make their own decisions.
An experienced trusts and estates attorney can assess your needs and determine whether a durable power of attorney is right for you.
What Are the Features of a Durable Power of Attorney?
Specific key features present in a Missouri durable power of attorney include the following:
• Authority – As noted above, the principal may grant their agent the specific power to make legal, medical, and financial decisions on their behalf.
• Purpose – With a durable power of attorney, the principal can appoint someone to handle their affairs if they are rendered unable to do so, potentially avoiding a court-appointed guardianship.
• Duration – Distinguished from a non-durable power of attorney, which ends when the principal becomes incapacitated, a durable power of attorney remains in force when the principal is incapacitated or disabled.
• Scope – The principal can specify the extent of their agent’s authority. For example, it may be broad or limited to specific matters, such as medical or legal decisions.
How Does a Power of Attorney Differ from a Durable Power of Attorney?
A durable power of attorney is an estate planning tool that includes language showing that the principal extends authority to their agent in the event of incapacitation. It remains in effect until the principal revokes the authority or dies. However, a court could terminate the durable power of attorney if it determines the document is invalid.
What distinguishes a regular power of attorney from a durable power of attorney is that a regular POA ends if the principal becomes incapacitated. Depending on your needs and circumstances, a durable power of attorney may be preferred. If you have questions about what power of attorney would best serve you, a skilled and knowledgeable attorney can evaluate your circumstances and advise you of your options.
What Powers Cannot Be Authorized in a Power of Attorney?
While a principal can define the scope of authority they grant their agent, Missouri law prohibits certain powers from being included in a power of attorney. Specifically, the agent cannot make, publish, amend, or revoke a will for the principal. The agent is also prohibited from carrying out any actions that the principal specifically forbids while the principal is not disabled or incapacitated.
Contact Martin & Birdsong, Attorneys at Law, Today
When you are ready to establish your estate plan, call Martin & Birdsong, Attorneys at Law. We are experienced estate planning attorneys who can assist you with all your estate planning needs, including preparing a durable power of attorney. We want to offer you the peace of mind that comes with preparing your will and associated estate documents. Contact us today to get started with a confidential initial consultation.