Question 1

What is a Springing Durable Power of Attorney?

Accepted Answer

A Springing Durable Power of Attorney allows you to name someone you trust—called your agent or attorney-in-fact—to handle financial and legal matters for you. Unlike an immediately effective Power of Attorney, your agent’s authority does not begin when you sign the document. Instead, the authority “springs” into effect only if you become unable to manage your financial affairs.

Question 2

When does my agent’s authority begin?

Accepted Answer

Your agent’s authority begins only when the conditions specified in your Power of Attorney have been satisfied. Typically, this requires a determination that you are unable to manage your financial affairs in the manner provided in the document. Until then, you remain solely in control and your agent has no authority to act under the Power of Attorney.

Question 3

What can my agent do once the Power of Attorney becomes effective?

Accepted Answer

Depending on the authority granted in your document, your agent may be able to pay bills, manage bank and investment accounts, handle insurance matters, deal with real property, sign documents, communicate with financial institutions, and take care of other financial and legal matters on your behalf.

Question 4

Why is the Power of Attorney “durable”?

Accepted Answer

“Durable” means that the Power of Attorney is designed to remain effective even after you become incapacitated. This is particularly important because incapacity is often when the document is needed most.

Question 5

Why do I need a Power of Attorney if I already have a living trust?

Accepted Answer

Your successor trustee generally has authority only over assets held in your trust. A Durable Power of Attorney can give your agent authority to handle financial and legal matters outside the trust, including individually owned assets and other matters that require someone to act on your behalf. Having both documents helps provide a more complete plan in the event you become unable to manage your affairs.

WILLS & TRUSTS | ESTATE PLANNING

ESTATE PLANNING

Durable Power of Attorney

Plan ahead. Stay in control.

Choose someone to manage your financial and legal affairs if you become unable to do so. Your chosen agent can step in and manage your affairs avoidingthe need for a court-appointed conservator.

Why It's Important:

FREQUENTLY ASKED QUESTIONS