Flying Solo
Nextsteps FlyingSolo Our Store About Us Life Management Home


 
Browse Resources:

Columns

Divorce & Estate Planning

Divorce & Separation

Elderly & Disabled

Estate Planning

Frequently Asked Questions

General Elderly & Disabled

Long Term Care

Social Security & Medicare

State Information

Un-Married Couples

 
What is a Springing POA?

Question: I have been reading your column for several years and have finally decided that it would be best for me to get a power of attorney in case I become incapacitated. My biggest fear, however, is giving authority to someone (even my children) who could access all of my accounts. I don’t want to lock myself in permanently either. What are the rules about conditional powers of attorney? About terminating a power of attorney after you have signed it?


Answer: A “conditional” power of attorney is better known as a “springing” durable power of attorney which, by its language, “springs” into existence upon the occurrence of an event that takes place after you sign the document.


For example, the conditioning language could require that two doctors -- one of whom is your treating physician -- determine that you are so incapacitated that you can not take care of your business before your power of attorney can be used. In this way, even though you sign your power of attorney today, your agent will not be able to exercise any authority until you become incapacitated as corroborated by the written opinions of two physicians. In addition, the language of the document can be sufficiently restrictive to prevent your Agent from doing anything with your funds other than what you specifically allow within the document.


Termination of your agent’s authority under a durable power of attorney can be accomplished in several ways: (1) You can revoke the authority so long as you have sufficient capacity; (2) When you die, your power of attorney is automatically revoked; or, (3) Your power of attorney expires based upon it’s own wording. You have the absolute right to revoke your power of attorney so long as you have the capacity to do so; however, if you become incapacitated, your power of attorney cannot be revoked except by its own terms. For example, some documents provide that if a guardian or conservator is appointed by the probate court, the power of attorney is terminated. In any event, the revocation process should include written notice to all persons and institutions that have relied on the document in the past.



Need more advice or help with this topic? Click here to get information about taking the "Next Step".

Create your personal health plan now and make your wishes known ® using My Final Decisions

© 1986 - 2018 Jan Warner. Please See our Terms of Service and Privacy Policy.
Please feel free to contact us with any comments.

Planning Your Future with 20-20 Vision™


Today, more than 36 million Americans are age 65 or over. There are more than 22 million family-member caregivers. Then there are the Baby Boomers. All are grappling with the major decisions that accompany the latter stages of life. This book is for them. Written by two experts with decades of experience between them, it is a comprehensive guide that instructs readers about how to create a plan to deal with all aspects of aging, helps maximize options and ensure wishes are carried out.

Learn More
Order the book
When dementia may not be dementia Diagnostic Momentum
Create your personal health plan now and make your wishes known ® using My Final Decisions
Suggested Reading:
NS-Beware of Elective Share Claim in Planning
Click for more ....


NS-Boomers Will Not Have Retirement Cushion of Yesteryear
Click for more ....


NS-How To Properly Set Organ Donations
Click for more ....


NS-Keeping Unfit Parent From Trust
Click for more ....


NS-Never too Late to Date
Click for more ....


NS-Total Return Trust Can Create Income
Click for more ....


Our New Book is Out!
Click for more ....



Other
Recommended
Resources