A Power of Attorney (POA) is a document that allows you to give authority to someone you trust to act on your behalf. This document is frequently seen in real estate dealings and brokerage accounts, but they also play a big part in your estate plan.
If you were to become disabled, you’d want to have someone who could speak on your behalf with regard to medical treatments and someone who could take over your financial affairs. A Healthcare POA can handle the medical issues and a Property POA can see to it that your finances are in order.
A Power of Attorney only works for you if it's “durable." A durable POA means that these documents are not automatically revoked in the event you become mentally disabled.
To make a POA durable, you have to properly state that intention in the document itself. The statutes in Nevada recommend the language that should go into the document.
To learn more about a Powers of Attorney or you need help setting one up, get in touch with the experts at Anderson, Dorn & Rader.
