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What are the disadvantages of a durable power of attorney?

Under Oregon law, if an individual does not have an Advance Directive, then the following individuals have priority for health care decision-making: legal guardian, spouse, majority of adult children, and then close friends. Those individuals may be who you would choose as your Health Care Representative.

What is the advantage of a durable power of attorney?

What does power of attorney durable mean? A durable POA gives someone else legal authority to act on your behalf, and it continues in force even if you lose your mental capacity. Financial POAs give your agent financial powers that may include managing your assets, paying bills, and buying and selling real estate.

Why is durable power of attorney important?

A durable power of attorney remains in effect even after you are mentally incapable of making your own healthcare or financial decision. We recommend having both a durable power of attorney for health care and a durable financial power of attorney to ensure optimal management of your health as well as your assets.

What is a durable power of attorney in Oregon?

One major downfall of a POA is the agent may act in ways or do things that the principal had not intended. There is no direct oversight of the agents activities by anyone other than you, the principal. This can lend a hand to situations such as elder financial abuse and/or fraud.

What three decisions cannot be made by a legal power of attorney?

When someone makes you the agent in their power of attorney, you cannot: Write a will for them, nor can you edit their current will. Take money directly from their bank accounts. Make decisions after the person you are representing dies. Give away your role as agent in the power of attorney.

Which is a key disadvantage of a power of attorney?

If you execute a general POA, one of the biggest potential disadvantages is that your Agent has the ability to devastate you financially. With a general POA your Agent can withdraw funds from all your financial and investment accounts, sell your property, and even enter contracts in your name.

Rev 1343BD7 OREGON DURABLE POWER OF ATTORNEY IMPORTANT 2025

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Rev 1343BD7 OREGON DURABLE POWER OF ATTORNEY IMPORTANT 2025

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What is a durable power of attorney in Oregon?

What three decisions cannot be made by a legal power of attorney?

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