Durable Power of Attorney vs Power of Attorney
What is the difference between a Durable Power of Attorney and a Power of Attorney? Is a Durable Power of Attorney for medical issues only? Are they basically the same? My dad is almost 90 years old and is preoccupied with wills and making preparations for his passing. He is also on a budget, so one document that will cover all issues would be preferable.
Thanks Much!
Re: Durable Power of Attorney vs Power of Attorney
A durable power of attorney would take effect immediate and last until his death. One can alternatively have a springing power of attorney where, if a doctor certifies that one is not competent to handle financial affairs, the attorney-in-fact takes over at that point. There’s also a different document called a living will or power of attorney for health care which specifies the name(s) of the person(s) who can make health care decisions if one is incapable of doing so. These generally are separate documents because they serve different purposes.
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