The Law Offices Of Christelle G. Clement 917-805-1158

Estate Planning Newsletter

Two Kinds of Durable Powers of Attorney

If you become incapacitated, who is supposed to make decisions for you about the management of your property or your health care? A durable power of attorney allows someone you designate to act on your behalf. It is usually included as part of an estate plan.

A durable power of attorney is different from a non-durable power of attorney because it remains in effect even when you are incapacitated.

You are the “principal” when you create the durable power of attorney, and the “attorney-in-fact” is the person you appoint. Your attorney-in-fact may have the power to carry out all the same activities as you. An attorney-in-fact may be anyone close to you, such as a spouse, relative or close friend. In other words, an attorney-in-fact does not have to be an attorney.

Property Management

The attorney-in-fact designated for managing your property should adhere to your own standards of care. Also, this attorney-in-fact should:

  • Avoid conflicts of interest
  • Follow your directions
  • Keep regular contact with you
  • Maintain records of all transactions
Health Care

Your attorney-in-fact for health care has the duty to make health care decisions for you. Some states have simplified this process. For example, California has a Health Care Decisions Law that makes it easier to name someone to act on your behalf for medical treatment decisions.

More Than One Permitted

You may assign more than one power of attorney to carry out your property management or health care wishes. Usually, if there are 2 or more attorneys-in-fact, they must agree on what actions to take on your behalf.

  • Non-Citizen Spouses and the Qualified Domestic Trust (QDOT)
    A QDOT is a specific type of marital deduction trust that is designed to ensure that non-citizen spouses will eventually pay any taxes that may be due upon distribution of the principal from the trust, even if the surviving spouse... Read more.
  • The Convention on the Form of International Wills
    The Convention on the Form of an International Will (the “Convention”) was drafted and presented to the international community in 1973. The Convention was signed and ratified by a number of countries, including Canada and... Read more.
  • New Estate Tax Rates Bring Certainty
    Much to the relief of many, the American Taxpayer Relief Act of 2012 (“2012 Tax Act”) was enacted in the beginning of 2013, making permanent many of the tax benefits that were scheduled to expire at the end of 2012. The... Read more.
  • The Reciprocal Trust Doctrine Can Trap the Unwary
    Estate planning attorneys utilize a number of different estate planning techniques to accomplish the goals of their clients and sometimes to minimize transfer taxes. One common estate planning technique is the transfer of assets into an... Read more.
Estate Planning News Links

Estate Planning

Share This Page:

Law Offices of Christelle G. Clement is located in New York, NY and serves clients in and around New York, Long Island City, Brooklyn, Astoria, Sunnyside, Woodside, Maspeth, Middle Village, Jackson Heights, Bronx, Elmhurst, Ridgewood, East Elmhurst, Rego Park, Corona, Woodhaven, Jamaica, Bronx County, Kings County, New York County and Queens County.

Designed and Powered by NextClient

© 2015 Law Offices of Christelle G. Clement. All rights reserved.
Theme WebExpress™ attorney website design by NextClient.com.