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Durable Power of Attorney
The next document in a basic estate plan is the Durable Power of Attorney, which authorizes an individual to make financial decisions for you. The Durable Power of Attorney:
Can be designed to take effect immediately or later, at a time or circumstance designated by you – usually upon your incapacitation.
Must have specific language which states that you intend for the authority of the Durable Power of Attorney to continue while you are legally incapacitated. Such language is required by Michigan law.
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