Durable Power of Attorney and Springing Power of Attorney
A durable power of attorney is an instrument which allows another person to act on your behalf to run your financial, business and personal affairs, even if you have become incapacitated. A durable power of attorney is an extremely important part of your estate plan. Without it, your loved ones may need to seek the appointment of a conservator in the Probate Court, a time consuming and extremely expensive process which allows anyone to have access to your sensitive personal information such as the details of your finances. A basic durable power of attorney becomes effective as soon as it is signed, giving your chosen “attorney-in-fact” the power to act on your behalf at that time. This makes the document useful in the event you are merely unavailable (for example, if you are on vacation) and not incapacitated. If you wish to have a power of attorney which can be used only if you are incapacitated, or effective upon some other event, you should execute a “springing power of attorney” in which you can specify the circumstances under which it will become effective. Connecticut residents should be sure to execute a durable power of attorney which is drafted in accordance with the applicable statutory provisions set forth section 1-42 et seq. of the Connecticut General Statutes. Attorney Rubino is experienced in all issues relating to durable powers of attorney and can assist you in drafting and executing this important document.