POWERS OF ATTORNEY

The term “power of attorney” refers to giving another person the power to represent your interests and sign on your behalf during any period of your incapacity. It is a part of any comprehensive estate plan in that it provides for the management of any non-trust assets and day-to-day bill paying activities while you are incapacitated. There are two basic types of powers of attorney: the general power of attorney and the durable power of attorney. The general power of attorney expires upon the incapacity of the principal. It is typically used for short-term purposes, for instance in order to give a spouse power to sign on your behalf while you travel. The durable power of attorney, on the other hand, is more commonly used in estate planning because it survives the incapacity of the principal (hence the word “durable”). We include and incorporate a durable power of attorney into all of our estate plans.