A durable power of attorney is a powerful estate planning tool.  Many people wonder what would happen if they become incapacitated or otherwise unable to manage their affairs.  While you can give someone power of attorney to manage your assets and make certain decisions on your behalf, most powers of attorney automatically expire if the principal becomes disabled or incapacitated.  However, if a power of attorney is specifically made “durable” it will remain in effect even if the principal becomes incapacitated. Without a durable power of attorney, if the principal becomes incapacitated then the person acting on the principal’s behalf normally needs to petition the court to establish a conservatorship or guardianship in order to have the legal power to manage the person’s affairs.   These court procedures can be quite costly and lengthy. 

A durable power of attorney can be put in place for general or specific items.  Common areas for durable powers of attorney include managing finances and making health care decisions.  Often, these mechanisms are referred to as Health Care Powers of Attorney or Financial Powers of Attorney.   

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