In general, an agent, or attorney in fact, may be anyone who is legally competent and over the age of majority. Q: Who may act as an agent under a Power of Attorney? Generally, any individual over the age of majority and who is legally competent can establish a Power of Attorney.
Q: Who can establish a Power of Attorney? Most people choose their spouse or domestic partner, a trusted family member, or friend. When you appoint another individual to make financial decisions on your behalf, that individual is called an agent or attorney in fact.
There are generally two types of durable powers of attorney: a present Durable Power of Attorney in which the power is immediately transferred to your attorney in fact and a springing or future Durable Power of Attorney that only comes into effect upon your subsequent disability as determined by your doctor. This guardianship process is time consuming, expensive, often costing thousands of dollars and it can be emotionally draining for your family. Without a Durable Power of Attorney, it may be necessary for one of your loved ones, including your wife or adult child to petition a court to be appointed guardian or conservator in order to make decisions for you when you are incapacitated.
What is a Durable Power of Attorney for Health Care?Ī Durable Power of Attorney is a document that empowers another individual to carry on your financial affairs in the event you become disabled or incapacitated. Who may act as an agent under a Power of Attorney?
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