Durable Powers of Attorney
A Durable Power of Attorney allows an individual to name an attorney-in-fact to make decisions on their behalf even if they become mentally incapacitated. The attorney-in-fact’s authority is limited to the scope of the authority granted to him or her in the Durable Power of Attorney. There are two types of Durable Powers of Attorney.
A traditional Durable Power of Attorney is effective immediately and allows an attorney-in-fact to make decisions on your behalf in the present and in the event you should become mentally incapacitated. A springing Durable Power of Attorney is effective only in the event you should become mentally incapacitated and allows an attorney-in-fact to make decisions on your behalf in this unfortunate instance.
Therefore, if you are unable to perform any duties and obligations in regards to business, your attorney-in-fact can make important decisions on your behalf if this document is executed.At Halperin Lyman we help you understand the importance of these decisions and advise you on the duties and obligations the attorney-in-fact will have.
We then work with you to draft a Durable Power of Attorney that will fit your needs. This will give you peace of mind knowing that in the event you are mentally incapacitated your businesses and belongings are well taken care of.