What Is a Durable Power of Attorney?
A durable power of attorney is one of the most important — and most overlooked — documents in an estate plan.
What "durable" means
A standard power of attorney automatically ends if you become incapacitated — the exact moment you'd need it most. A durable power of attorney includes specific language that keeps it in effect through incapacity, which is why nearly every estate plan should use the durable version.
What your agent can do
Depending on how it's drafted, your agent can pay bills, manage bank and investment accounts, handle real estate transactions, and file taxes on your behalf — powers you can broaden or restrict.
Without one: guardianship or conservatorship
If you become incapacitated without a durable power of attorney, your family may need to petition a court for guardianship or conservatorship — a slower, more expensive, and more public process than simply having a document ready.
Frequently asked questions
- When does a durable power of attorney take effect?
- It depends on the document — some are effective immediately upon signing, others are "springing" and take effect only upon a doctor's certification of incapacity. Requirements vary by state.
- Does a power of attorney end at death?
- Yes — a power of attorney's authority ends at death; after that, only the executor named in your will (or trustee) has authority.
- Can I have more than one agent?
- Yes, you can name co-agents or a hierarchy of successor agents in case your first choice is unavailable.