There may be a multitude of scenarios in which a person in Massachusetts or elsewhere could become incapable of making important decisions in life. Those who wish to plan for the possibility of sudden incapacitation could find it helpful to explore the potential benefits of a power of attorney. One such option includes creating a durable power of attorney and having a similar strategy in place could prove beneficial in various ways.
A durable power of attorney is a document in which the grantor gives another person the power to make decisions on his or her behalf. With a durable power of attorney, the agent may retain the power to act on behalf of the grantor in the event of incapacitation. There are several ways in which a durable power of attorney can be cancelled and there are also a variety of options to help ensure the arrangement meets the wishes of the grantor.
When creating a durable power of attorney, a person may have the option of choosing the aspects that will be covered in the document. For instance, one could create an arrangement in which the agent will have the power to make decisions on a broad array of financial topics or include special instructions that focus on specific areas. Such a flexible arrangement could also prove beneficial in ensuring an agent retains the power to make vital medical decisions for the grantor should the need arise.
With a variety of options to consider, each of which may function in its own manner, planning for the future may seem an intimidating endeavor. Those who wish to gain insight into the benefits of a durable power of attorney could find it helpful to consult with an attorney for guidance. An attorney can help a client in Massachusetts better understand each of the available options and assist in forming an estate plan with his or her wishes for the future at heart.
