Why You Need a Durable Power of Attorney Now!

Planning for unfortunate events such as serious illness or injury is rarely on anyone's list of favorite pastimes. Sometimes, though, enduring the small discomfort that may accompany preparing for the unexpected will avoid untold suffering on the part of your family and friends. It is certainly the case with the power of attorney, a simple document that often becomes so important if sickness or injury that shows you are unable to take care of your own work.

The Power of Attorney is a document where you (as the "Principal") allow another person (the "Agent" or "Attorney-in-fact") to act legally on your behalf. The Power of Attorney may be limited to very specific actions that the Agent is authorized to do on your behalf. On the other hand it may give the Agent very broad powers. In any event, the Agent you can put the Power of Attorney should be someone you trust without reservation. That could be a family member, a counselor, a trusted friend or a bank or similar institution.

The significance of having a "valid mapasasawalang" Power of Attorney is best to understand what might happen to the plain old garden variety of Power of Attorney.

If you sign a power of attorney that are not "substantial," the document remains effective only while you are alive and able to handle your own affairs. If you become incompetent or die, the Power of Attorney is automatically revoked by law and your Agent will not be able to act on your behalf. This prevents a power of attorney from becoming irrevocable inadvertently, and, until recent times, it is the only way of Power of Attorney can be prepared.

The non-durable Power of Attorney has limited usefulness for family and estate planning purposes, though, because the Power of Attorney is often most needed when you become disabled? That is when you really need someone else who can make legal decisions or take other actions on your behalf.

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