Life is uncertain, and nobody knows what the future holds. In some instances, you might find yourself in a position where you can't make important decisions on your own, such as due to a medical condition or disability. In such a situation, a power of attorney comes in handy, and it is essential to understand its different types.

A power of attorney is a legal document that enables you to appoint someone to manage your affairs on your behalf. In Tennessee, two main types of power of attorney exist: durable power of attorney and regular power of attorney. In this blog, we will delve deeper into what these two types of documents entail.



What is a durable power of attorney?

A durable power of attorney is a legal document that enables you to appoint someone to act on your behalf in the event of your incapacity. The chosen person, also known as an agent, will have the authority to make financial, legal, and medical decisions on your behalf.

This type of power of attorney remains in effect even if you become mentally or physically incompetent, and it ends upon your death or revocation. In Tennessee, a durable power of attorney is viewed as more effective than a regular power of attorney when it comes to managing your affairs.

What is regular power of attorney?

A regular power of attorney is a legal document that authorizes someone, the agent, to act on your behalf for a specific period. It can be used in instances where you are away, making transactions while on vacation, or handling an investment-related matter. In Tennessee, once you become incapacitated, the regular power of attorney ceases to be valid.

How are they different?

The most significant difference between these two documents lies in their powers. A durable power of attorney, as its name suggests, is more robust and remains valid even after you become incapacitated. In contrast, a regular power of attorney can only be used when you are capable of handling your affairs. Once you become incapacitated, it becomes invalid in the state of Tennessee.

How can an attorney help?

When it comes to matters of power of attorney, it is essential to consult competent legal counsel. An attorney will not only help you draft and customize the power of attorney document according to your unique needs, but they also offer legal advice on how to protect your interests and minimize any legal risks.

An attorney can also help mediate any misunderstandings surrounding the power of attorney and ensure that all documents are legally binding and valid. This guidance can be invaluable when it comes to protecting yourself and your assets should anything unexpected arise.

In conclusion, a power of attorney is a critical legal document that enables you to appoint someone to act on your behalf. In Tennessee, two main types of power of attorney documents exist, the durable power of attorney, and the regular power of attorney. While they might seem similar, there are significant differences that one must understand before making decisions. Therefore, understanding the differences, seeking the help of an attorney, and drafting the power of attorney that best suits your needs is important to ensure you're protected and your assets secured should you become incapacitated in the future.