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After choosing an agent for your Durable Power of Attorney for Finances, you must also consider the type. There are two types of Durable Powers of Attorney for Finances to consider:
- The type that takes effect immediately. The Durable Power of Attorney for Finances takes effect immediately after signing the document.
- Otherwise known as a Springing Power of Attorney, this type takes effect only when and if you become incapacitated.
Moreover, each type functions differently and your choice depends on how you feel about your selected agent. Therefore, if you selected a reliable agent according to the article Considerations for Choosing an Agent for Your Durable Power of Attorney for Finances, it will be a painless decision.