 |
| Durable Power of Attorney |
A durable power of attorney is a document which allows a person you trust to manage your financial affairs and make decisions for you should you become incapacitated or terminally ill. The document is called "durable" because the document continues to be effective even should a person become incompetent after executing it. Note that not all people use powers of attorney to plan for a potential disability. Powers of attorney can be used to give someone authority to make decisions on behalf of a person while that person is still able to make them for themselves. For instance a person selling a piece of real estate may not be able to attend the real estate closing because of distance or some other pressing matter. A power of attorney could be used to give another person the ability to attend the real estate closing and sign documents.
In order to make a Durable Power of Attorney in Massachusetts, you must be 18 years old, of sound mind, and under no constraint or undue influence. What is sound mind? A person 18 or over can only sign a power of attorney if they understand the implications of what they are signing. If the adult cannot understand the implications of what they are doing, for instance the person is suffering under a mental incapacity, then that person would not be able to execute a power of attorney. A person laboring under a mental incapacity or developmental disability may need to have a guardian or conservator appointed.
*The above information is very general in nature and should not be considered or relied upon as legal or any other type of advice. If a reader has any legal problem immediately consult an attorney for specific legal advice. If a reader has a medical or psychological issue, immediately consult with a medical professional. See the disclaimer tab at the top of the page for more information.
Photo credit
No comments:
Post a Comment