Financial Durable Powers of Attorney

Document Type

Book Chapter

Publication Date

2010

Abstract

This chapter by Carrolyn Dessin explores the use of durable powers of attorney (DPOA) as a legal tool in elder law to manage financial affairs in anticipation of potential incapacity. The author explains how DPOAs serve as a flexible, cost-effective alternative to court-appointed guardianships by allowing individuals (principals) to appoint agents to handle financial decisions. Dessin addresses key legal requirements for creating a valid DPOA, the scope of authority granted, and the fiduciary duties imposed on agents. The Chapter also highlights potential risks, including abuse and exploitation, and suggests legal and policy mechanisms to protect vulnerable elders while preserving their autonomy.

Publication Title

Elder law handbook

Comments

Editor :Daniel P. Seink , 4th edition

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