Powers of Attorney

Durable Power of Attorney

Perhaps one of the most forgotten estate planning tools is the durable power of attorney. The power of attorney is a legal document that allows you to designate who can act for you in case of your incompetence.
 
For example, if your spouse has become mentally incompetent due to an accident or illness, and you wish to sell the family home so that you can move closer to your spouse's family, someone has to be able to sign the closing papers on your spouse's behalf. Just because you are legally married does not give you the right to sign for him or her.
 
 
For example, if your spouse has become mentally incompetent due to an accident or illness, and you wish to sell the family home so that you can move closer to your spouse's family, someone has to be able to sign the closing papers on your spouse's behalf. Just because you are legally married does not give you the right to sign for him or her.
 
Without a durable power of attorney, a conservator would have to be appointed by the probate court. This typically requires a probate court hearing and testimony from medical professionals.