It's scary to think about having a health emergency or accident, but those situations are even scarier if you don't already have a plan of action in place. At Kali Yost Law, we specialize in helping you prepare for whatever your future may hold – including the possibility of permanent or temporary incapacitation after an emergency or accident – with a durable power of attorney.
A durable power of attorney gives a trusted family member or loved one the legal authority to make decisions on your behalf. They'll also have the legal right to manage your property and access your assets to pay your expenses. Setting one up in advance not only saves precious time if you become incapacitated, but it also removes some of the inevitable uncertainty and the potential for conflict or family power struggles.
What is a Power of Attorney?
Also called a “letter of attorney” or “POA,” a power of attorney is a legal document that authorizes a person (the agent) to act on behalf of someone else (the principal). There are a variety of different powers of attorney that you can give to someone you trust to grant specific kinds of decision-making power, and Kali Yost Law commonly recommends a durable power of attorney as part of the Oregon estate planning process.
How is a Durable Power of Attorney Different?
All powers of attorney give someone else the legal right to make decisions for you, but a durable power of attorney specifically allows that person to act on your behalf when you're incapacitated. A DPOA typically become effective immediately after you sign it, remains effective if you become incapacitated, and it will stay in effect until you sign a “revocation of POA” form – or you pass away.
Unlike a Medical Power of Attorney (also known as an advanced directive), which only allows someone to make decisions related to healthcare, a DPOA often grants broad decision-making power that may encompass financial, business, and legal matters. Depending upon your needs, the Oregon estate planning experts at Kali Yost Law can work with you to tailor a durable power of attorney that grants only the legal authority that aligns with your wishes, preparing it in advance so it's ready if you need it.
When Do I Need a Durable Power of Attorney in Oregon?
At Kali Yost Law, we work closely with our clients to create customized durable powers of attorney as part of the estate planning process. Think of it like the fire extinguisher you keep in your kitchen: You hope you won't need it, but you'll be glad it's there if you do.
Just like that fire extinguisher, your durable power of attorney should be carefully designed to meet your specific needs. That means considering:
- the person to whom you'll grant durable power of attorney
- the circumstances in which the durable power of attorney should take effect
- the specific legal authority granted by the durable power of attorney
Often, a durable power of attorney is a proactive measure you put in place “just in case.” If you face a health emergency or are in an accident that leaves you incapacitated or mentally incapable of making your own decisions, the DPOA will take effect so someone else can take care of you and your affairs immediately. Without one, you may need to be declared incompetent in court before your family can make financial or medical decisions – which can waste valuable time when you need treatment, strain your family's resources, and cause additional unnecessary stress.
You can also establish a durable power of attorney if you're concerned about your current or future ability to understand the repercussions of your decisions and actions. Reasons could include:
- a worsening medical condition that impacts your mental capacity, like Alzheimer's or dementia
- a physical disability that prevents you from signing important documents
- wanting to give someone else the power to make specific decisions your their behalf
No matter what your reason for creating a durable power of attorney, the estate planning attorneys at Kali Yost Law can guide you to create a DPOA that takes your unique situation and individual needs into account.
Meeting Your Needs with Empathy and Understanding
The attorneys at Kali Yost Law have worked with numerous clients throughout Oregon to develop estate plans and create durable powers of attorney that are customized for a wide range of circumstances and events. Whether you're hoping to simplify the legalities for your family if you're incapacitated or it's time to let someone else take the wheel and take care of you, we'll give you all the information you need and walk you through the process step by step. Together, we'll create a durable power of attorney that accomplishes your goals while protecting you and your family – while also providing you with some peace of mind. Contact us to schedule a consultation and get started today.
