The durable power of attorney is relatively new and was created under the Guardianship and Custodianship Law, 5722 – 1962. What is a durable power of attorney? A durable power of attorney is a legal document that allows you to make decisions, choices and provide instructions, when you are still capable of doing so. The durable power of attorney enables an individual, or several individuals (according to the law this individual is referred to as an agent or empowered person and the individuals are referred to as agents or empowered persons) to tend to your personal, medical and financial matters when you can no longer do so.
Unlike a regular power of attorney, which is limited in time and is automatically revoked and longer valid when someone is legally unfit or incapacitated, the durable power of attorney is a unique and powerful tool which does not terminate when one is legally unfit or incapacitated. The durable power of attorney will enter into effect exactly at such time when a person is legally unfit or incompetent to make their own decisions, and the appointer’s decisions, choices and instructions will be carried out by the empowered person according to the durable power of attorney. This tool designated the empowered persons and does not require any applications or motions to be filed with the court for the purposes of appointing a guardian/custodian and for receipt of instructions (which are all time consuming and costly).
Not every attorney, by being simply an attorney may prepare durable powers of attorney. Only attorneys who have been certified by the Ministry of Justice may prepare durable power of attorneys may do so.
Please feel free to contact Pardo & Co., Law Offices for an initial consultation and we will be happy to assist and provide additional information and prepare a durable power of attorney that is tailor-made for your needs.