Powers of Attorney
For estate-planning purposes, there are two different kinds of Powers of Attorney: "durable" and "springing." A Durable Power of Attorney remains in effect during the lifetime of the grantor and will remain in effect after death, while a Springing Power of Attorney becomes effective ("springs") upon the happening of a certain event, such as the written certification by your doctor that you are incompetent. Often it is better to draft the Power of Attorney so your agent's authority begins when you sign the document. Otherwise, you effectively appoint the medical community as gatekeepers to the exercise of power by your attorney-in-fact because any institution, such as a bank, is likely to require irrefutable proof from your doctor or doctors that you are, in fact, incapacitated.