Powers of Attorney
A Durable Power of Attorney (DPOA) is a legal document that allows you to appoint someone you trust—known as your agent—to manage your financial and legal affairs if you become incapacitated or are otherwise unable to handle them yourself. Unlike a standard power of attorney, a DPOA remains in effect even if you become mentally or physically unable to make decisions, making it a critical part of any comprehensive estate plan.
One of the most important reasons to have a Durable Power of Attorney is to ensure that your assets and financial matters are properly managed in the event of illness or cognitive decline, such as dementia. Without this document in place, your loved ones may have to go through a costly and time-consuming court process to be appointed as your guardian or conservator. A DPOA provides peace of mind that someone you trust can step in seamlessly to pay bills, manage investments, and protect your financial well-being.
A Durable Power of Attorney is also useful in more routine situations, such as when parents are traveling overseas and want a trusted relative to temporarily care for their children or handle important legal matters in their absence. Whether you’re planning for unexpected medical issues or simply need flexibility while away, a DPOA gives your family the legal authority to act on your behalf when it matters most.
Frequently Asked Questions
- Are there different kinds of Powers of Attorney?
- Yes. POAs can be either Limited or General. A general POA allows your agent to do just about anything you can do. They are often used by an elderly person to authorize an adult child that they trust completely to help them with all of their transactions. On the other hand, a limited power of attorney relates to one particular account, or even one particular transaction. For example, we have helped clients sell a house while overseas. The husband was traveling on the day of the real estate closing, so he gave his wife a limited POA so that she could sign the deed for him, limiting her authority to just that one transaction.
- Who should I appoint as my agent under a Durable Power of Attorney?
- Choose a trusted individual—often a spouse, adult child, or close friend—who is responsible, organized, and capable of managing financial matters. In New Hampshire, you can also appoint a backup agent in case your primary choice is unavailable.
- Can I limit what my agent can do in New Hampshire?
- Yes. The DPOA can be customized to grant broad or limited powers, such as handling bank accounts, real estate, taxes, or investments. New Hampshire law allows significant flexibility based on your comfort level.
- When does a Durable Power of Attorney take effect in New Hampshire?
- A POA can be immediate or springing. An immediate power of attorney is effective immediately. You would use this if you need your agent to act right now, because you are in poor health or because you are too busy to handle all of your own transactions. A “springing” power of attorney, on the other hand, only becomes effective when certain conditions are met, such as a doctor declaring you disabled. In New Hampshire, clearly stating when and how the POA becomes active is essential to avoid confusion or misuse.
- Can I revoke my Durable Power of Attorney in New Hampshire?
- Yes. As long as you’re mentally competent, you can revoke or change your DPOA at any time. It’s important to notify all involved parties and destroy any copies of the old document.
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