What is the difference between a Power of Attorney and a Conservatorship?
- November 26, 2019
- David Greene
- Comments Off on What is the difference between a Power of Attorney and a Conservatorship?
These are two legal powers that, in many instances, accomplish the same purpose in two completely different ways. I’ll discuss the Power of Attorney today and the Conservatorship next week. There are several kinds of Powers of Attorney but the most common one is the Durable Power of Attorney. This is a voluntary power given to a person called the Agent (used to be called the Attorney-in-fact) by the grantor of the Power so that the Agent can handle the affairs of the grantor when the grantor cannot due to illness, incapacity, absence or otherwise. The grantor must be competent and the POA is given at a time when the grantor can handle his own affairs. It is recorded in the Register of Deeds office and can be revoked at any time by the Grantor.