What is a Statutory Durable Power of Attorney?
A Statutory Durable Power of Attorney (or financial Power of Attorney) designates an agent to make financial decisions and control property on your behalf. A Power of Attorney gives great financial responsibilities. For example, if you are in an accident and are in the hospital, your agent could help pay your bills and manage your financial affairs in your absence. Sometimes a financial Power of Attorney is filed in the County where real estate is located, although this is not necessarily required. To revoke a Power of Attorney, you generally only need to execute a new Power of Attorney. You may also need to file a revocation if the original Power of Attorney was filed with a court.
A Statutory Durable Power of Attorney allows you the opportunity to chose an agent to make financial and business-type decisions should not you be able to make these decisions for yourself, such as selling real property, dealing with Social Security, managing financial accounts, etc. This fact must be certified in writing by two physicians. Back to Main FAQs Page Wendy L. Prater Attorney at Law 1919 North Loop West, Suite 490 Houston, Texas 77008 Phone: (713) 802-9171 Fax: (713) 802-9173 E-mail: praterlaw@sbcglobal.
A Statutory Durable Power of Attorney (or financial Power of Attorney) designates an agent to make financial decisions and control property on your behalf. For example, if you are in an accident and are in the hospital, your agent could help pay your bills and manage your financial affairs in your absence.
