Power of Attorney General Durable Upon Disability for Property and Finances

Durable Springing General Power of Attorney (upon disability) is an important legal document.

The powers you grant in Durable Springing General Power of Attorney ARE EFFECTIVE ONLY IF YOU BECOME DISABLED OR INCOMPETENT.

This power of attorney does not authorize anyone to make medical or other health care decisions on your behalf.

A Springing Durable General Power of Attorney is an alternative to a durable power of attorney.

A Springing Durable General Power of Attorney doesn't become effective until you're disabled. That means that your agent can start acting as your attorney in fact only after you are determined disabled.

Some people do not feel comfortable delegating wide range of authorities to the agent immediately after signing the Power of Attorney that is why they use a springing power of attorney. But springing power of attorney may cause potential issues if there is a disagreement between doctors or family members in regards to the moment of disability of the grantor.

Please take a note that before a Springing Durable General Power of Attorney may come into effect there must be a formal determination of disability of a grantor. Other words, in your Springing Power of attorney you indicate that two designated physicians must agree and put their opinion in writing that the grantor is disabled or incompetent to manage his affairs due to his illness. Only after such an Affidavit is signed and attached to the Power of attorney, your agent may act as an attorney in fact.

Until the incapacity of the principal is established, a third party, such bank or Social Security Administration, may refuse to honor the Power of attorney. As a result, a judicial proceeding to establish disability may follow. That is the opposite of what you wanted to achieve. Therefore, you have to be really mindful in choosing the right type of power of attorney.

Durable Springing General Power of Attorney gives the person whom you designate (your "agent", "attorney-in-fact") broad powers to handle your property, tangible or intangible. Among the subjects discussed in a general durable power of attorney are: real property and personal property transactions, stock and bond transactions, commodity and options transactions, banking, estate and trusts, claims and litigation, personal and family maintenance, division of social security and other governmental benefits, retirement plan transactions, tax matters.

These powers are explained more fully in the uniform statutory form power of attorney act, which expressly permits the use of any other or different form of power of attorney.

The general durable (springing) power of attorney must be dated and acknowledged before a notary public. A durable power of attorney that may affect a real property must be acknowledged before a notary public so it may easily be recorded.

Some counties may require you to register this power of attorney at the office of commissioner of deeds at your county, or at the county clerk's office.

If there is anything about this form that you do not understand, you should ask a lawyer to explain it to you.

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