California Power of Attorney

DURABLE POWER OF ATTORNEY FOR PROPERTY MANAGEMENT:  As part of a complete Estate Plan containing a Revocable Living Trust, Durable Power of Attorney, Advance Healthcare Directive (Living Will), and Pourover Will, this document allows you to name someone to act on your behalf, called your “agent” or “attorney in fact”, with regards to your financial affairs if you become unable to act, due to some physical or mental problem (incapacity).  This person can do a variety of things, but must do them for your benefit, and cannot do them for their own benefit, unless they are your spouse.

Types of Durable Power of Attorney:

SPRINGING:  A “springing” Durable Power of Attorney does not give any authority over your finances until two doctors have certified in writing that you are incapacitated, and unable to legally handle your financial affairs.  Only when you are deemed incapacitated can your agent handle your financial affairs, for your benefit.

IMMEDIATE: An “immediate “Durable Power of Attorney gives authority over your finances immediately when you sign the document.  Even if you are healthy, and capable of handling your own financial affairs, your agent has authority to handle these matters on your behalf also.

People Involved With a Durable Power of Attorney:

ATTORNEY-IN-FACT:  This is the person named by you in a Durable Power of Attorney to act on your behalf.  They are also referred to as your “agent”.