A good estate plan doesn’t just address what happens to property at death, but also in the event of an incapacity. One way this is done is through Durable Power of Attorney within an estate plan. It is particularly difficult on a family when one or more of the parents is incapacitated and unable to handle affairs.
These issues are resolved with the Durable Power of Attorney (DPOA).
A Durable Power of Attorney allows you to designate an agent to be responsible for all of your property. It can be difficult to access assets to pay bills for you, manage your household, and any other number of things that need to get taken care of without this document.
It is important to note that a DPOA does not always choose the same agent as the MPOA. The person you want in charge of finances is not always the same choice as who you would want in charge of your medical wishes.
Consulting with a qualified attorney is your best bet in ensuring that your estate plan includes these vital documents.
