Powers of attorney: Springing vs. nonspringing

Description

Abstract: Estate planning typically focuses on what happens to a person’s children and assets when he or she dies. But it’s equally important (some might say more important) that a person have a plan for making critical financial and medical decisions if he or she becomes incapacitated. A crucial component of this plan is the power of attorney (POA). This article defines a POA and explains the difference between a springing and nonspringing POA. A sidebar explains the difference between a health care power of attorney and a living will.