Kentucky Durable Power of Attorney Form
A Kentucky durable power of attorney is a form that allows an individual to appoint another person to manage their financial and other non-medical affairs. It is an integral part of estate planning as it ensures a person has financial coverage if incapacitated unexpectedly. Incapacitation can happen because of illness, injury, or any other condition that causes the individual to lose their ability to speak or make decisions.
The person who completes the power of attorney is the “grantor,” whereas the individual given power is the designated “agent.” Once the agreement becomes active, the agent can make financial decisions for the grantor. Therefore, the form must include the extent of powers assigned to the agent; a broad explanation of power may give the agent too much authority, which might not align with the individual’s preferences.