What are the differences in a will and Durable Power of Attorney?
- February 10, 2016
- David Greene
- Comments Off on What are the differences 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.