A “Power of Attorney” is when you give somebody the authority to make financial decisions on your behalf. Powers of attorney can be of three types: (A) “springing” which means that it takes effect only when you become incapacitated; (B) “durable” which means that it’s effective the moment you sign it, and remains effective through your incapacity; (C) “general” powers of attorney are for all your financial matters; (D) “specific” or “limited” powers of attorney give authority only for specific matters and/or time periods. 

You do not need to give away all of your power over your affairs. Aside from granting only a limited or springing power of attorney, you can grant a general power of attorney and retain “half” your decision-making power; this essentially creates a “team” structure (you and your appointed agent) who work together to make your financial decisions.

All powers of attorneys (of whatever kind) end upon your death.

“What we have done for ourselves alone dies with us; what we have done for others and the world remains and is immortal”

-Albert Pike

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