Ask Me Anything "EPISODE 38" | Erica Endyke
Question: What are the different types of Powers of Attorney?
Answer: There are essentially three different types. The first is your regular power of attorney, where you are appointing an agent to perform certain acts on your behalf. Say you cannot attend a real estate closing and you would like your spouse to do that on your behalf. You sign the power of attorney. they can go sign your name under power of attorney.
The next type is a durable power of attorney. That power of attorney will last through incapacity, which is very important because that's generally when people really need these powers of attorney to be effective when folks can no longer handle maybe their debtors or their bills or whatnot. And this is contrast to the regular power of attorney which may not be effective during incapacity.
The last type of a power of attorney is called the springing power of attorney and that's its own animal because in order for the authority that is set forth in the document for an agent to perform certain acts in order for that to be triggered there must be a determination of incapacity by an attending physician.
