What is the difference in a will and Durable Power of Attorney?,

What is the difference in a will and Durable Power of Attorney?,

  • November 16, 2017
  • David Greene
  • Comments Off on What is the difference in a will and Durable Power of Attorney?,

Each individual, even husbands and wives, needs to make a will in order to pass his/her assets after death.  A Durable Power of Attorney, though, simply gives someone you trust the authority to act in your behalf when you can’t act for yourself.  Let me make one thing clear.  A Power of Attorney has legal validity only during a person’s lifetime and a will has legal validity only after a person dies. As I have stated before, I would encourage everyone to grant a durable Power of Attorney to your spouse, child or someone you trust.  Just as importantly, I encourage everyone to make a will to accomplish what you want to happen to your assets after you die.  If you do not have a will, the state law determines where your assets go and to whom.  You do not want that to happen.  Unlike the Power of Attorney, a will is a private document and does not become a public document until after you die and the probate process is started in the Probate Court.  On the other hand, a Durable Power of Attorney is filed in the Register of Deeds office to give the world notice who has been given authority to act on behalf of another.

 

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