What is a Durable Power of Attorney for Financial Purposes?
This document allows you to designate someone as your agent or attorney - in-fact to make financial decisions regarding your property and assets. It gives them the power to sign your name without the need of incurring the cost and frustration of petitioning the probate court to have them appointed your financial conservator. There are two types of Durable Power of Attorney for Financial Purposes. An "immediate" power of attorney takes effect as soon as you sign it and continues in existence until you revoke it. A "springing" power attorney takes effect only after you become incapable of managing your ... Read More
Whom can I name as my power of attorney?
Anyone over the age of 18 years old can be designated as your attorney-in-fact. However, this is a very powerful document and we highly recommend that you choose a loved one you trust completely.
Did divorce invalidate my power of attorney?
You cannot assume that divorce or legal separation invalidates your Durable Power of Attorney for Financial Purposes (or any other estate planning document for that matter.) If you do not want your ex-spouse making financial decisions on your behalf, you should immediately revoke your power of attorney.
