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What is the difference between power of attorney and durable power of attorney?

What is the difference between power of attorney and durable power of attorney?

Full question:

I am little confused in executing a power of attorney. What is the difference between a power of attorney and a durable power of attorney? I live in New Jersey.

Category: Power of Attorney
Date: 04/07/2025
State: New Jersey

Answer:

A power of attorney is a legal document that allows you, the principal, to authorize another person, known as the agent or attorney-in-fact, to act on your behalf. A durable power of attorney is a specific type of power of attorney that remains effective even if you become disabled or incapacitated.

The key difference is that a standard power of attorney typically ends when you become incapacitated, while a durable power of attorney continues until your death or until it specifies a termination time. In New Jersey, these definitions are outlined in N.J. Stat. § 46:2B-8.2.

In summary, a durable power of attorney ensures that your agent can continue to make decisions for you if you are unable to do so yourself, while a regular power of attorney does not have this provision.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

Which is better, general or durable power of attorney?

The choice between a general power of attorney and a durable power of attorney depends on your needs. A general power of attorney grants broad authority to your agent but becomes ineffective if you become incapacitated. In contrast, a durable power of attorney remains effective even if you are unable to make decisions due to incapacity. If you want your agent to continue acting on your behalf in such situations, a durable power of attorney is typically the better option.

What are the disadvantages of a durable power of attorney?

One disadvantage of a durable power of attorney is that it gives your agent significant authority over your affairs, which could lead to misuse if the agent is untrustworthy. Additionally, once established, it can be difficult to revoke if you change your mind, especially if you become incapacitated. It's essential to choose a reliable agent and regularly review your documents to ensure they meet your current needs.

What is the difference between power of attorney and durable power of?

The main difference is that a standard power of attorney becomes invalid if you become incapacitated, while a durable power of attorney remains in effect during incapacity. This means that with a durable power of attorney, your agent can continue to make decisions for you even if you are unable to do so yourself. This distinction is important for ensuring your affairs are managed according to your wishes.

Does power of attorney have more power than executor?

A power of attorney and an executor serve different roles. A power of attorney acts on your behalf while you are alive, managing your affairs and making decisions as specified in the document. An executor, on the other hand, is appointed to manage your estate after your death, ensuring your wishes are carried out according to your will. Therefore, a power of attorney does not have more power than an executor; they operate in separate contexts.