elsua - Knowlegde Management and Collaboration

John Ventura: The durable power of attorney is an important document for people that have, say, a complicated business situation, maybe they own a business, or they find themselves at an age when they really cannot make the daily financial decisions that need to be made about their life. Now let me explain what it is: The durable power of attorney is a document where you give authority to a person to act to act in your behest and what that means is that they can make all decisions that are necessary about your assets. You give them the power to sell your assets, to buy things, to enter into contracts for you, to make decisions about investments, to pay your bills. Another situation that may come up is incapacitation. If you suddenly have a stroke and you want all your affairs to be taken care of, you would want to have a durable power of attorney and a person designated to handle all your affairs if that should occur.

Vigeland: So is this something that you would want to do at almost any age?

Ventura: You know, not everyone needs one of these things, but if you have a business, if you have complicated financial affairs, debts that need to be taken care, investments, property, then I think you should have a durable power of attorney and someone chosen that's going to make decisions for you if you're not able to do it.

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