Not all estate planning is in anticipation of death. Powers of Attorney allow people to also plan for their own incapacitation. Generally, Powers of Attorney come in two forms: the General/Durable Power of Attorney, and the Healthcare Power of Attorney.
For the purposes of this post, I’ll be discussing only the Durable Power of Attorney. StephensonLaw has a preference for Durable, rather than General, Powers of Attorney because they survive the incapacity of the principal. Durable Powers of Attorney relate to the financial matters that people encounter on a daily basis. Have you ever wondered what would happen if you were in a horrible accident which left you incapacitated for an extended period of time? Who would take care of your finances and pay your bills? What if you need to execute an important financial document but are unable to?
Durable Powers of Attorney allow you to appoint an agent to act on your behalf in financial matters, including executing documents on your behalf, moving money, managing accounts, or even executing a deed to your home.
If you are in an accident and are permanently incapacitated, your family will need to take control of your assets in order to care for you. Without a Durable Power of Attorney, they will have to go through a cumbersome and potentially expensive court proceeding to establish a guardianship over you. Using a Durable Power of Attorney as part of your estate plan will save your family the time and effort – they should be taking care of you, not going back and forth to court.
An important aspect of the Durable Power of Attorney is the principal’s ability to change, limit, or revoke it whenever appropriate. However, they normally have to be recorded with your local Register of Deeds in order to be effective.
Author Bio
Paul Yokabitus
Founder & Estate Planning Lawyer
Paul Yokabitus is the founder of Cary Estate Planning, where he helps North Carolina families protect what matters most through wills, trusts, probate, and special needs planning. Known for his “planning, not paperwork” approach, Paul turns complex legal concepts into clear, practical strategies so clients feel informed and confident at every step. He has been recognized as a Business North Carolina Legal Elite attorney and a Super Lawyers Rising Star, and was named to the Triangle Business Journal’s 40 Under 40. A graduate of Campbell University School of Law, Paul lives in the Triangle with his wife, Alix, and their two sons.
Linkedin | Avvo | SuperLawyers
How We Help North Carolina Families
Paul and his team at Cary Estate Planning are fully committed to creating a personalized experience to develop thorough and comprehensive estate plans. They value their clients and go above and beyond to make sure that no details are missed. I would highly recommend Paul to anyone looking to create an estate plan.
I was referred to Paul by my Real Estate Attorney and I could not say enough about how exceptional the client service has been from everyone I spoke to. The communication is prompt and I feel like they really took the time to answer all my questions and set things up exactly as I wanted, but also recommended things to make it easier on my family down the line.
After attending one of Paul’s estate planning seminars, my husband and I knew we wanted Paul to assist us with our estate planning. His honest, professional approach to this necessary part of life put us at ease with the process. We will continue to recommend Paul and Cary Estate Planning.
We had a great experience working with Paul Yokabitus and the team at Cary Estate Planning to set up our Will and Estate Plan. The process was clear and easy, and in the age of COVID, our signing session was very well done, easy, and safe.
The Cary Estate Planning team will make sure that you have the information you need to be confident in your estate planning decisions. I learned so much from videos, a one-on-one in-person consultation, the website, emails, and a newsletter mailed the old fashioned way. The fee is very reasonable given the importance of estate planning. No matter the size or number of your assets, don’t procrastinate like I did!
Paul is a masterful attorney. He’s very good at taking your intentions and defining that into a durable Trust and Will. Best of all he is as simple and plain-spoken as you like. Or as fast as intellectual as you may be. It’s all about your your speed and your desired outcomes. Would strongly recommend this firm.
Trusted Estate Planning
Attorney Offices in Cary and Raleigh
Capability to meet virtually to help all NC residents
