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Contingent Durable Power of Attorney

A legal document that grants power of attorney to a designated individual in the event of the grantor’s incapacity.

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Original price was: $211.63.Current price is: $103.10.

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Service Description

The document known as a Contingent Durable Power of Attorney is a legal instrument that allows an individual, known as the principal, to appoint another person, known as the agent, to handle their financial and legal affairs in the event that they become incapacitated or unable to make decisions for themselves. This document is often used in estate planning to ensure that the principal’s affairs are taken care of in the event of an unexpected illness, injury, or other situation that renders them unable to make decisions on their own.

The term “durable” in the name of this document is significant because it means that the power of attorney remains in effect even if the principal becomes incapacitated. In other words, the agent appointed by the principal continues to have the authority to act on their behalf, even if they are no longer able to make decisions for themselves.

A Contingent Durable Power of Attorney can be customized to fit the specific needs of the principal. For example, the document can be set up to give the agent broad powers to handle any financial or legal matters that arise, or it can be limited to specific tasks or situations.

One of the key benefits of a Contingent Durable Power of Attorney is that it allows the principal to choose someone they trust to handle their affairs. This can be a family member, friend, or even a professional, such as an attorney or financial advisor. It is important to choose an agent who is reliable, responsible, and capable of making decisions that align with the principal’s wishes.

In order for a Contingent Durable Power of Attorney to be valid, it must be signed by the principal in the presence of witnesses and/or a notary public. It is important to note that the document can be revoked or amended at any time, as long as the principal is still capable of making decisions.

In summary, a Contingent Durable Power of Attorney is a legal document that allows an individual to appoint someone they trust to handle their financial and legal affairs in the event that they become incapacitated. This document can be customized to fit the specific needs of the principal, and it is important to choose an agent who is trustworthy and capable of making decisions that align with the principal’s wishes.

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