WHAT IS A SPRINGING POWER OF ATTORNEY?
Ordinarily, a Durable Power of Attorney becomes effective as of the day it is signed. This means that even if you are competent to make your own decisions, your attorney-in-fact will also have the legal authority to act on your behalf and engage in financial transactions. A “Springing Power of Attorney” on the other hand, becomes effective at a later date, usually when the principal becomes mentally incompetent, it “springs” into effect at the point you lose capacity, as certified by a physician.
