Powers of Attorney can either be Durable or Non-Durable. Both forms are used to appoint another person to manage your business and/or financial affairs in the event you are unable to do so. Whether you would need a Durable or Non-Durable Power of Attorney depends greatly upon the reason you anticipate not being able to carry out your own affairs.

A Durable Power of Attorney is one that is used in the contemplation that you may, at some point in life, become incapacitated. The Durable Power either becomes effective once you become incapacitated (referred to as a Springing Power) or it is effective upon the signing of the Power (referred to as an Immediate Power). If the Power of Attorney is immediately effective, it is not affected by subsequent incapacity.

A Non-Durable Power of Attorney is generally used to give another person, such as a spouse or trusted friend, the authority to execute important documents or transact business for you in your absence. For example, you might need to sell your house or have business documents signed during a time that you will be out of the State or Country. In this case, you could use a Non-Durable Power of Attorney to appoint someone you trust to carry out these affairs on your behalf, so that you do not lose out on a real estate or business deal. Unlike a Durable Power of Attorney, a Non-Durable Power of Attorney is automatically revoked in the event of death or incapacitation.

For a free consultation to discuss Powers of Attorney, contact our office at 408-292-4849 to schedule an appointment