Dothan, AL Law Blog

A strong durable power of attorney (DPOA) can be a powerful tool in managing financial decisions for those who are unable to do so for themselves. Did you know that “durability” means the authorization remains in effect after the principal is incapacitated? Let us discuss how a strong durable power of attorney can help you and your family. 

• Maintain control of your finances even when you cannot manage them. A strong DPOA appoints someone to manage your financial affairs when you become incapacitated.  

• This estate planning tool can make the transition of decision-making less disruptive.  Should you be unable to administer your own financial matters, such authorization assists in your continued ability to control them by your appointed agent.  He or she should continue carrying out your wishes in day-to-day banking, real estate transactions, and paying bills, among other financial matters.  When you face a sudden event rendering you unavailable, having a DPOA helps keep your finances on track.  

• Ensure decisions are made according to your preference.  A strong DPOA can help ensure that someone you trust and understands your preferences can make the right choices on your behalf.  A DPOA gives the agent, or “attorney-in-fact,” such an extended authority, so you should choose someone you trust.  You also should find an agent who may be knowledgeable to handle the matters enumerated in the DPOA, whether the DPOA is limited in scope or covers every aspect of your finances and legal matters.  

• Your agent should know your personal preferences to make the desirable decisions.  Close family members or trusted friends may be good candidates because they may be familiar with your personal preferences and needs. 

• Protect your family from outside decisionmakers. Lastly, a strong DPOA can help keep your financial decisions that impact your loved ones from being made by a stranger.  You likely want to avoid exposing your spouse and children to a decision that may not be what you want no matter how appropriate it may be.  

For more information on how a durable power of attorney can protect you and your family, please reach out to our office. We will be happy to schedule an appointment for you to come in and discuss this matter further.