A durable power of attorney is a legal document that a person (the principal, grantor, or donor) signs to appoint another person as the grantor’s agent or attorney-in-fact—with authority to make financial and property-related decisions on behalf of the principal—including transactions involving business interests, investments, insurance, taxes, bills, real estate, stocks, bonds, commodities, personal property, Social Security, Medicare, Medicaid, and other financial matters.
A traditional power of attorney is effective only while the principal has full mental capacity, but a durable power of attorney remains effective if the principal becomes physically or mentally disabled or incapacitated (incompetent) from a stroke, Alzheimer’s disease, an automobile accident, or other cause. In some states the legislature has provided a form durable power of attorney in a statute (law) and the document may be referred to as a statutory durable power of attorney.
In West Virginia, a durable power of attorney is a legal instrument that allows an individual (the principal) to designate another person (the agent or attorney-in-fact) to manage their financial and property affairs. This authority can include handling business matters, investments, insurance, taxes, real estate transactions, and government benefits among other financial activities. Unlike a traditional power of attorney, which loses its validity if the principal loses mental capacity, a durable power of attorney in West Virginia remains in effect even if the principal becomes incapacitated due to various causes such as illness or injury. This ensures that the agent can continue to act on the principal's behalf without interruption. West Virginia may provide statutory forms for a durable power of attorney, which comply with state laws and offer a standardized way to create this important legal document.