Durable Power of Attorney

Power of attorney is a document that granted the authority from owner (principle) to any other person, to perform certain activities on his behalf. Power of attorney enabled that person to perform and handle specific business transactions on the behalf of owner (principal). These business transactions may include tax audit handling, stock power execution and maintenance of safe-deposit box. Power of attorney can either to be general in nature or to be limited to specific events or circumstance. The owner can terminate this power of attorney at any time. Moreover, it is automatically lapsed, if the owner became ineffectual or expired.



There is a special type of power of attorney, called as "durable" power of attorney and is created to deal with the business maters involving decision making process, including property maters or health care etc... This differs from the traditional one in that sense that it enables person to continue and perform his duties beyond the owner incapability. Durable power of attorney consists of two (2) types. The one is considered "Immediate" that takes effect immediately after the execution of durable power of attorney. The other one is regard as "Springing" that becomes active as a result of occurrence specific incident.



The durable attorney is very popular because it facilitates the owner (principal) to hand over his responsibilities in the case of his incapability, without any trouble. Without durable attorney, the owner can handle his business maters only by appointing any guardian. This is relatively a complex procedure involving expensive court proceedings. This will also cause humiliation for the owner that he is incompetent to deal his business maters.

The important thing to notice and should be considered in durable attorney is that, owner may appoints an inappropriate or incapable person to perform his business affairs and the document can be crafted to grant either general attorney or limited attorney. It is because of the fact that no legal proceedings are needed to make this process inexpensive and to avoids of being considered as incapable or incompetent.



The concept of the durable power of attorney was first presented in the National Conference of Commissioners on uniform state Laws in 1969. This concept was amended after ten (10) years of the regulations dealing and known as Uniform Durable Power of Attorney (UDPA). UDPA have different versions that vary from one state to another one but some powers cannot be handed over or delegated including to amend, revoke or make a will, to change the beneficiaries of insurance, marriage contract and to cast a vote.







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