A durable power of attorney is a document that gives someone power over another person’s financial affairs. The benefits of, and advice for creating, a durable power attorney are discussed in a recent article. The article stresses the importance of choosing a trustworthy agent and setting out the agent’s powers. Additionally, the article points out that effective planning ensures that the power of attorney will be effective under the varied laws of all states and countries where it may be needed, and not just the state where it is created.
For more information, see Deborah L. Jacobs, Putting Your Faith in a Power of Attorney, NY Times, May 9, 2009.
Special thanks to J. Barrett Shipp (The Law Office of J. Barrett Shipp, San Antonio, Texas) for bringing this article to my attention.
