General Durable Power of Attorney
Powers of Attorney can become effective immediately or can stay dormant until you become incapacitated. You can name one or more agents or a succession of agents. You can request that any agent you have named act solely or together. The decision is yours. The typical powers that are covered in our documents include personal financial decisions, business operations, real estate transactions, farming operations and more.
The term “Durable” means that the power of attorney continues in effect in the event of your incapacity. If it does not say so, then a power of attorney terminates in the event you are determined to be incapacitated.
A common misconception about this document is that it will be effective after death. This is false. Your agent’s power ceases at your death. Durable Power of Attorney authorizations are only effective while the incapacitated person is living.
Certain authority must be stated specifically or the agent does not have the ability to perform it. An example of this would be granting authority to create or fund a trust, sell or convey your home, or have authority to make gifts. All Powers of Attorney are not created equal. What the document says is important. It is not unusual to find a situation where a client has a power of attorney that does not grant the needed authority.
Have a question?
Need Assistance?We can help
Larson and Brown has over 34 years of estate planning legal experience, but we do much more than simply practice law. We are personally invested in our community and work hard to meet the needs of individuals who seek our help. That’s why we build great relationships with our clients by providing valuable information, guidance, and support for current concerns, as well as long term planning.
We care. We listen. We counsel.
To set up a consultation and find out more about creating a legacy for your loved ones, call
(316) 729-0100 or use the follow the button below and send us an email. We look forward to working with you.