A person personally enters into not all legal transactions.
Some of these transactions are through an agent known as an attorney via a document giving power of attorney.
A durable power of attorney is a legal document executed by a person named as principal granting authority to another person known as the attorney-in-fact to enter into a specific legal transaction.
It is different from the commonly known general power of attorney and limited power of attorney.
If you are giving power to your attorney, in fact, through a document known as a durable power of attorney to sell or mortgage your property,
be aware that this power is effective and will continue in effect even in the event of your mental incapacity or injury.
It is one characteristic of a durable power of attorney, which is not present in a general power of attorney or limited power of attorney.
Usually, this is availed of by elderly members of our society in favor of their relatives who can decide about their health in the future when they become incapacitated.
It is a document granting financial and medical responsibilities to your relative, who will decide on your behalf.
Therefore, it is important to execute a durable power of attorney if you are approaching old age
so that your family will not be powerless when it comes to your health, pay medical bills or make important health care decisions for your benefit.
Without this document, your family will not be allowed to make important decisions regarding your health.
In giving out this power, choose your agent wisely and discuss the scope of responsibility.
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