How to Activate Durable Power of Attorney
If you need someone else to act on your behalf in legal or financial matters, you would sign a power of attorney agreement. Also called a POA, this agreement allows another person to act for you in certain situations, such as if you become mentally incompetent. If you wish the POA holder to continue to make decisions for you, then you will need to create a durable POA.
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Instructions
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Determine why you need a durable power of attorney so that you can decide if there should be any limitations on the durable POA agreement. For example, if you and your siblings are completing a large, complicated real estate deal together, you might sign a durable POA so that one sibling can handle all matters in that deal. However, you do not need that sibling to act on your behalf in other matters. Therefore, you would limit your durable POA to only real estate dealings.
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Pick a POA holder. This can be anybody, but many people choose relatives or an attorney. The only requirement is that your POA holder be competent and trustworthy. Before going further, you should have a frank conversation with your POA holder in which you explain what your expectations are for her.
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Consult a lawyer about creating durable POA papers. Explain the purpose of the power of attorney and any limitations you may want to put on it. Once POA papers have been created, you have to have them notarized in order for the agreement to be legally enforceable. You and the POA holder need original copies for your records.
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Notify all interested third parties about your durable POA. This may include your doctors, your banking institution and any legal advisers. It is also a good idea to keep close relatives informed about your durable POA so that they can hold ensure that the POA holder acts properly on your behalf. Provide a copy of the durable POA papers to each third party for their records.
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Tips & Warnings
Remember that you can modify or revoke durable POA at any time. However, if your mental competency is called into question, your POA holder may contest it, requiring you to present evidence in court of your mental health.
You do not need a lawyer to create a durable POA agreement, but should consider working with a lawyer if you are faced with a situation involving complicated legal and financial matters. If your durable POA is a general one, you can use do-it-yourself forms found on many legal sites. Be sure to have it notarized.
