Chayet & Danzo, LLC Chayet & Danzo, LLC www.Coloradoelderlaw.com
Call for a Free Initial Consultation
Direct303-872-5980
Toll-Free 1-888-472-1088
Email Us
Compassion, talent and dedication: guiding colorado families and Their Trusted Advisors During Times of Need

How do Powers of Attorney work in Colorado?

As difficult as it is to imagine, there might come a time in your life where you are unable to make important decisions on your own. This might be because of a sudden traumatic accident, or because of a slowly progressing condition like Alzheimer’s or dementia.

Whatever the cause, it is important to have safeguards in place to protect you. A Power of Attorney is one of the best ways to do this. Here are some answers to commonly asked questions about Powers of Attorney in Colorado.

What type of Power of Attorney is right for me?

There are four main types of Powers of Attorney in Colorado. Which one you choose to use depends on what your goals are. A Financial Power of Attorney (also called a General Power of Attorney) allows a person to make financial and property-related decisions on your behalf. A Medical Power of Attorney grants the ability to make medical decisions on your behalf. A Durable Power of Attorney combines these two, and grants the ability to make both financial and medical decisions. You also have the option to create a Limited Power of Attorney, which grants only those powers you wish to convey.

Who do I give Power of Attorney to?

You can give Power of Attorney to anyone you trust to carry out your wishes (it doesn’t have to be a lawyer). Generally speaking, this person — who is called an “agent”— is supposed to act however you would act in similar circumstances. As such, it is usually best to choose someone who you know very well and who you trust to protect your interests. You should also choose a successor in case your agent dies or is unable to act.

How does a Power of Attorney take effect?

Powers of Attorney can take effect in one of two ways, depending on how they’re structured. A “springing” Power of Attorney only goes into effect when a certain event happens. For example, you might create it to take effect only when you are unconscious or otherwise unable to communicate your wishes. A “standing” Power of Attorney goes into effect when it is signed by the person creating it.

How to I create a Power of Attorney?

Like other estate planning tools, a Power of Attorney must be drafted and notarized to be effective. It is best to work with an experienced estate planning attorney to ensure you are properly protected.

No Comments

Leave a comment
Comment Information

Watch Our Firm Video

We are the premier Elder Law firm in the Colorado region. We set ourselves apart from other law firms in the area with our talent, dedication, compassion and ability of our attorneys to handle any case in Elder Law. We serve Colorado families with experience and dignity in your time of need.

View More Videos

Denver Office
650 S.Cherry St., Suite 710
Denver, CO 80246

Phone: 303-872-5980
Fax: 303-355-8501
Denver Law Office Map

Edwards Office
105 Edwards Village Blvd.
#D-201
Edwards, CO 81632

Toll Free: 888-472-1088
Fax: 303-355-8501
Edwards Law Office Map

Aspen Office
600 East Hopkins Avenue
Suite 301
Aspen, CO 81611

Toll Free: 888-472-1088
Fax: 303-355-8501
Aspen Law Office Map

  • Rated by Super Lawyers Macro Chayet SuperLawyers.com
  • Rated by Super Lawyers Frank J. Danzo, III  SuperLawyers.com
  • Member National Academy of Elder Law Attorneys, Inc. TM
  • Avvo Rating 10.0 Superb Top Attorney Elder Law
  • 2015 Five Star Professional Wealth Manager Multi-Year Winner
  • Our new 2015 Medicaid Book: how to protect your Family's Assets from devastating nursing home costs
  • Proud Sponsor 2015-Denver Colorado Senior Law Day
  • Peer Review Rated For Ethical standards & Legal Ability TM Martindale Hubbell
  • Haystack