What Powers are Conferred by a Durable Power of Attorney?

You may authorize an agent under a Durable Power of Attorney to:

  • buy or sell property (real and/or personal) for you;
  • apply for public benefits/government assistance on your behalf;
  • manage your business;
  • collect your debts;
  • invest your money;
  • cash your checks;
  • manage your day-to-day financial matters; or
  • take legal action on your behalf.

Some powers are given only if they are specifically mentioned. Those requiring specific mention include:

  • the power to make gifts of your money or other property;
  • the power to change your community property agreement; and
  • the power to designate beneficiaries of your insurance policies.

Some powers cannot be given to an agent. Those include:

  • the power to vote in public elections; and
  • the power to make or alter a Will.

For more information on Estate Planning tools such as a Durable Power of Attorney, please contact Stouffer Legal at 443-470-3599 in the Greater Baltimore area.