When an individual in Delaware creates an estate plan, it is important that they consider creating a Durable Personal Power of Attorney. There are a number of different reasons that an individual may want to draft this part of their estate plan. A Durable Personal Power of Attorney allows the agent to act on the principal’s behalf after they become incapacitated due to injury or illness.
One of the most important parts of this power of attorney is the Notice to Principal, which provides the agent with an explanation of their duties as the power of attorney. Another part of the document is the Durable Personal Power of Attorney that explains who the agent is and when their powers come into effect. It also provides an additional explanation of all of the powers and whether another power of attorney that was previously in place needs to be revoked at this time.
A power of attorney can be very helpful in the event that an individual becomes incapacitated and can no longer handle their estate. The principal has the authority to determine exactly what powers the agent will have and ensure that the agent can only act on matters that have been approved.
If you need assistance creating an estate plan in Delaware, contact us today.
The law firm of Mattleman, Weinroth & Miller, P.C., is composed of experienced attorneys throughout the states of New Jersey, Pennsylvania and Delaware. Please contact the office to schedule a free initial consultation and get any questions answered regarding your specific case.