Can you please explain what the difference is between a financial durable power of attorney and a health care durable power ...

A durable power of attorney means the document ... you’ll want to implement a financial power of attorney. Typically, these agents handle retirement accounts, bank accounts, real estate, taxes ...

This makes it less suitable for long-term planning than the durable variety. A financial power of attorney grants the agent authority only over the principal’s financial affairs. This can ...

Agents named in a durable power of attorney can make financial or medical decisions on the principal's behalf even after the individual becomes incapacitated. Immediately Effective vs. Springing ...

For most people, the best option is a general durable power of attorney as it gives your agent broad powers that remain effective even if you become unable to handle your finances. An attorney can ...

See my article on the power of attorney trap. You and your attorney need to work with the financial institutions to ensure a smooth transition. When does it take effect? The durable POA is the ...

If there is no power of attorney in place ... be given to each person named in the document. For a durable POA, consider giving a copy to financial institutions, and for a healthcare proxy ...