WHAT ARE "DURABLE" POWERS OF ATTORNEY?
June 18, 2013
Incapacity planning is an important part of a comprehensive plan for the future, and this is something that is often overlooked. There was a poll conducted by the Harris organization late in 2009 that found that only 48% of people over the age of 65 had a durable financial power of attorney in place and only 51% had a durable power of attorney for health care.
These documents are utilized to name someone to make decisions in your behalf should you become unable to do so due to incapacitation. Because of the fact that they are "durable" they do in fact remain in effect after the incapacitation of the grantor.
You may find that the person that you would like to see making your medical decisions is not the same individual that you would want to appoint to handle your financial affairs. So, you could name a different attorney-in-fact to act in your behalf for each separate function.
There are those who do not take incapacity planning seriously because they think that it is very unlikely that they will ever become unable to make their own decisions. In fact, almost half of people who reach the age of 85 are incapacitated for one reason or another and this is the fastest growing age group in the United States.
Incapacity planning is important if you want to cover all your bases. If you want to get started, simply take a moment to arrange for a consultation with a good San Bernardino Elder Law attorney.