A durable power of attorney (DPOA) is a legal document that allows you to appoint someone you trust to make decisions on your behalf if you become incapacitated. This person is called your "agent." Your agent will have the authority to make decisions about your finances, property, and healthcare.
A DPOA is different from a regular power of attorney, which becomes invalid if you become incapacitated. A DPOA, on the other hand, remains in effect even if you become incapacitated. This means that your agent will still be able to make decisions on your behalf even if you are unable to do so yourself.
Why Do You Need a Durable Power of Attorney?
There are many reasons why you might need a DPOA. For example, if you have a chronic illness or disability, you may want to appoint someone to make financial decisions for you if you become unable to do so yourself. Or, if you are going to be traveling for an extended period of time, you may want to appoint someone to make decisions about your property while you are away.
Even if you are healthy and not expecting to become incapacitated, it is a good idea to have a DPOA in place. This way, you can be sure that your wishes will be followed if something unexpected happens.
How to Create a Durable Power of Attorney?
To create a DPOA in Texas, you will need to: Download the Texas Durable Power of Attorney form from the Texas State Bar website.
Complete the form and have it signed by you and two witnesses. Have the form notarized. You can also create a DPOA by using an online service or hiring an attorney.
What Should You Include in Your Durable Power of Attorney?
Your DPOA should include the following information:
- Your name and date of birth
- Your agent's name and contact information
- The powers you are giving to your agent
- Any specific instructions you have for your agent
It is important to discuss your wishes with your agent before you create your DPOA. This will help ensure that your agent understands your wishes and is able to make decisions that are in your best interest.
Where to Keep Your Durable Power of Attorney?
You should keep your DPOA in a safe place where your agent can easily find it. You should also give a copy of your DPOA to your doctor, financial advisor, and other important people in your life.
Revoking a Durable Power of Attorney
You can revoke your DPOA at any time. To revoke your DPOA, you must sign a written document that revokes the POA. You must also have the revocation document witnessed or notarized.
Conclusion
A durable power of attorney is an important legal document that can help ensure that your wishes are followed if you become incapacitated. If you do not have a DPOA, your loved ones may have to go through a difficult and time-consuming legal process to gain access to your finances and property.
If you are considering creating a DPOA, I encourage you to speak with an attorney to discuss your specific needs. Contact us at (210) 361-9796 or at the link provided here.