Key Points
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- If you are unable or unwilling to transact necessary transactions, a legal document called a “power of attorney”, sometimes abbreviated as “DPOA”, is required.
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- The word “durable” means that the power of attorney can become effective when signed rather than on the event of your incapacity. The power is said to be durable in the sense that it is legally effective even if you become incapacitated later.
Requirements of a Washington State Durable Power of Attorney
A DPOA for financial decision-making in Washington State must meet certain requirements, including:
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- Capacity: The principal must have the capacity to create a power of attorney
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- Intent: The principal must have the intent to create a power of attorney
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- Formalities: The power of attorney must be in writing and signed by the principal in the presence of a notary public or two witnesses
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- Authority: The power of attorney must specify the authority granted to the attorney-in-fact
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- Duration: The power of attorney may be durable or non-durable
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- Revocation: The principal may revoke the power of attorney at any time, as long as they have the capacity to do so
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Why a Washington State Durable Power of Attorney is Important
A DPOA is important because it allows the principal to choose who will make decisions on their behalf if they become incapacitated. It can help to prevent family disputes and ensure that the principal’s wishes are respected. Without a DPOA in place, family members may disagree about who should make decisions on behalf of the principal, which can lead to arguments and even legal battles.
Choosing an Attorney-in-Fact
Choosing an attorney-in-fact is an important decision that should not be taken lightly. The attorney-in-fact should be someone the principal trusts and who is capable of managing their affairs. It is important to choose someone who is willing to take on the responsibility and who has the time and expertise to manage the principal’s affairs.
Conclusion
A Washington State Durable Power of Attorney is an important legal document that allows an individual to appoint someone else to manage their affairs if they become unable to do so themselves. Creating a DPOA requires careful consideration and planning, and it is important to choose an attorney-in-fact who is capable and willing to manage the principal’s affairs. By creating a DPOA
