Top Questions to Ask When Drafting a Durable Power of Attorney
Planning for the future is essential, and drafting a durable power of attorney (POA) is an important step in that process. A durable POA ensures that someone you trust can manage your affairs if you’re unable to do so yourself. But to get it right, there are key questions you should ask.
This article will cover the top questions to ask when drafting a durable power of attorney, so you can make informed decisions and have peace of mind in knowing your affairs will be taken care of if necessary.
Jump to article sections:
- What Is a Durable Power of Attorney and Why Do You Need One?
- Who Should You Choose as Your Agent?
- What Powers Should You Grant to Your Agent?
- How Does a Durable Power of Attorney Differ From Other Types of POA?
- Should You Include Healthcare Provisions in Your Durable Power of Attorney?
- How Can You Ensure Your Durable Power of Attorney Is Legally Enforceable?
- Where Can I Find a Lawyer to Help Me Draft a Durable Power of Attorney?
1. What Is a Durable Power of Attorney and Why Do You Need One?
A durable power of attorney is a legal document that authorizes someone, called your agent, to make decisions on your behalf if you can’t. The “durable” aspect means it remains valid even if you become incapacitated, making it a vital tool for long-term planning. Whereas a power of attorney is typically used for a specific transaction or time period, a durable power of attorney is meant to cover a range of situations and can be ongoing until revoked.
Without a durable POA, your loved ones may have to go through lengthy and costly legal processes to handle financial matters or make important decisions for you. Whether it’s managing bank accounts, paying bills, or making critical healthcare choices, a durable POA ensures these responsibilities are handled by someone you trust.
2. Who Should You Choose as Your Agent?
Selecting the right agent is one of the most important decisions you’ll make. This person could have broad access to your finances and health decisions, so trustworthiness is key. They should be someone reliable, honest, and capable of making sound decisions under pressure. Availability is equally important—an agent who lives nearby or can respond quickly to situations will make the process much smoother.
For example, you might choose a spouse, close relative, or trusted friend. Be sure to discuss this role with them in advance to ensure they’re comfortable with the responsibility.
3. What Powers Should You Grant to Your Agent?
When drafting your durable POA, you’ll define what powers your agent will have. These can range from overseeing your finances to making healthcare decisions.
For instance, do you want your agent to manage your investments, sign contracts, or sell property? Or would you prefer to limit their authority to specific tasks? Striking a balance is crucial—granting too much authority can feel risky, but limiting it too much might hinder your agent’s ability to act effectively. Discuss your options with your attorney to tailor the document to your needs.
4. How Does a Durable Power of Attorney Differ From Other Types of POA?
Not all POAs are created equal, and understanding the distinctions can help you make the right choice. A general POA becomes invalid if you become incapacitated, while a durable POA remains effective during such circumstances.
Another type to consider is a healthcare proxy, which specifically grants authority over medical decisions. While a durable POA can include healthcare provisions, some states separate financial and medical authorities into distinct documents. Understanding these differences ensures you’re fully prepared for any situation.
5. Should You Include Healthcare Provisions in Your Durable Power of Attorney?
Including healthcare provisions in your durable POA can offer peace of mind by giving your agent authority to make medical decisions. This could encompass anything from agreeing to treatment plans to deciding on long-term care arrangements.
You might also consider creating a separate advance directive or living will for more detailed instructions on your medical preferences. Combining these tools simplifies decision-making for your agent and ensures your wishes are respected.
Read more in our guide “What is a Durable Power of Attorney for Healthcare?”
6. What Are the Legal Requirements for Drafting a Durable POA in Wisconsin?
Each state has specific rules governing durable POAs, and these must be followed to ensure your document is legally valid. For example, in Wisconsin, you must be at least 18 and of sound mind to sign a durable POA. Additionally, the document must include certain language and be signed by two witnesses or a notary public.
Working with a local attorney guarantees your document complies with all relevant laws. An experienced attorney will also anticipate potential issues to create a seamless plan tailored to your specific situation.
7. How Can You Ensure Your Durable Power of Attorney Is Legally Enforceable?
For a durable POA to hold up in sensitive situations, it must be properly executed. This means following all signing, witnessing, and notarization requirements. Additionally, you should revisit the document periodically to make sure it reflects your current circumstances and preferences.
Changes in state laws, family dynamics, or your financial situation may require updates to keep your durable POA relevant and enforceable. Being proactive can prevent unnecessary complications.
8. Where Can I Find a Lawyer to Help Me Draft a Durable Power of Attorney?
If you’re ready to create a durable POA, finding an attorney experienced in estate planning and elder law is essential. You can start by asking for recommendations from friends or family or searching online for attorneys in your area.
Margerie Law understands the complexities of estate planning and is committed to helping clients protect their future. Crafting a durable power of attorney requires careful attention to detail, and our expertise ensures your document is comprehensive, legally sound, and customized to your unique needs.
By partnering with a Wauwatosa estate planning attorney like Margerie Law, you’ll gain the peace of mind that comes with knowing you’re fully prepared for whatever life throws your way. Contact us today to get started.
By Paul Margerie, Owner of Margerie Law
Paul Margerie of Margerie Law is a knowledgeable and experienced estate planning attorney based in Wauwatosa, WI. With years of experience helping families and individuals with their estate plans, he offers a gentle touch that puts his clients at ease. He understands the sensitive nature of this work and ensures that all details are taken care of with precision and accuracy. He strives to help each client achieve peace of mind that their future is protected by providing personalized advice and creating tailor-made solutions that fit their individual needs.
