Power of Attorney Durable Provision
I am filling out a power of attorney form that I purchased at Staples, a ”general power of attorney” from ”Made EZ Products”.
One of the ”areas of authority” reads as follows, with a box for my initials that represents granting of this area of authority to the attorney-in-fact:
Durable Provision
(P) If the blank space in the block to the left is initiated by the Grantor, this power of attorney shall not be affected by the subsequent disability or incompetence of the Grantor.
I would like to understand the implications of granting vs. not granting this area of authority to my stated attorney-in-fact. Basically, what does this mean, in laymans terms?
Thanks
Louie
Re: Power of Attorney Durable Provision
Making the Power durable means that should you become incapacitated the holder of the Power can still act on your behalf. This is the exact situation you should be covering – that if you are unable to act due to disability (incapacity), the holder can act for you. A similar provision should be contained in your Health Care Proxy (Living Will) if you have one.
Walter LeVine
Walter D. LeVine, P. A.
23 Vreeland Road #102
Florham Park, NJ 07932
Re: Power of Attorney Durable Provision
One of the most important advantages of the poa is to create the protection of having a third party able to act(execute documents etc) in the event of your disability. This is the significance of the granting this authority; however, I do not believe the poa you bought at staples is going to be comprehensive, usually these documents are very basic- almost too basic.
Steven W. Tarta,Esq.
http://www.TartaLaw.com
Steven Tarta
Steven Wayne Tarta, Attorney At Law
45 N.Broad Street, ste 100
Ridgewood, NJ 07450