If your parent is showing signs of cognitive decline, they may not make sound decisions on their affairs. As their child, it is possible not to have authority over your parent’s bank accounts or make their medical decisions. Drafting a durable power of attorney (DPOA) can help address this, but understanding how it works under Maryland law is crucial.
Outlining what a DPOA can do for your family
A DPOA is a legal document that allows your parent to name you as their agent. You can handle their money, real estate properties and business matters. They can also name you in their advance directive, which lets you make medical decisions if they become too sick.
Your legal authority depends on whether they assigned general or limited powers. A general POA means you have full control over their affairs, while a limited POA restricts you to certain tasks.
DPOAs take effect immediately when your parent signs it. However, they can also opt for a springing DPOA, which only triggers after a doctor certifies that they are incapacitated.
Avoiding procrastination with a purpose
You may think that DPOA is unnecessary until your parent suddenly cannot decide on important matters. If you decide to draft the document at this point, it might be too late. In Maryland, they can no longer legally execute a DPOA if they do not have the mental capacity to understand what they are signing.
As a result, your family may enter court guardianship proceedings. This emotionally stressful process can be costly, only to learn that you cannot decide who controls your parent’s life and finances.
How legal counsel can protect your family
Early intervention can help you address the issue while your parent still has legal capacity. An experienced elder law attorney in Maryland can draft customized incapacity planning documents tailored to your family’s unique needs. They will ensure all paperwork meets Maryland’s strict guidelines, establishing clear decision-making authority.