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How an Oklahoma Durable Power of Attorney Becomes Effective - YouTube
Channel: Cortes Law Firm
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hi my name is Steve Cortez I am an
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attorney and the owner of the Cortez law
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firm thank you for joining us today
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our topic is durable power of attorneys
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when they expire and when they be it
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become effective so let's get started
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someone recently asked me about a
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durable power of attorney and my answer
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both surprised me and most of the
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audience now I'll tell you why in a
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moment but first I want to tell you what
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a durable power of attorney actually is
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so a power of attorney is a legal
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document that gives someone that you
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trust the authority to act on your
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behalf
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now traditionally there are three types
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of power of attorneys the first one is a
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general power of attorney that gives
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someone that you trust the authority to
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act on your behalf on almost all matters
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now there's also a limited power of
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attorney and that gives someone that you
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trust the authority to act only in
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certain very specific situations on your
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behalf and then the third one is a
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medical power of attorney which you've
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probably seen if you've ever been in the
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hospital if you had somebody in the
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hospital and that simply allows somebody
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to act on your behalf or medical
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decisions now traditionally a power of
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attorney would stop in four ways the
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first is you specifically revoke the
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power of attorney one day you wake up
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and you just revoke it the second is if
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it actually has an expiration date the
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third is if you become incapacitated or
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mentally incompetent and the fourth one
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that kind of surprised everybody is if
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you were to die so if a power of
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attorney becomes ineffective and ceases
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to exist no longer exists if you become
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mentally incompetent or incapacitated
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then it's probably not going to do you
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any good or your family any good so that
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is what a durable power of attorney is a
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durable power of attorney allows someone
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that you trust to act on your behalf
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even if you become mentally incompetent
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or incapacitated in some way that you
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can't make decisions for yourself
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so a durable
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attorney can become effective
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immediately
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or upon incapacity
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that's called a springing durable power
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of attorney but the important thing to
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remember and the nice thing about a
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durable power of attorney is that it is
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not affected by any subsequent
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disability or incapacity now I've
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already hinted to it but the reason that
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everyone was surprised including me at
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the seminar and that is that a durable
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power of attorney actually any power of
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attorney ceases to exist no longer is in
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effect when you die now as an attorney
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mistakenly I thought that everyone knew
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that I thought everyone knew that a
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power of attorney expires on someone's
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death so since then I've met with many
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other people in my office who have
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downloaded a will and power of attorney
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off the internet and some who just
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didn't know and specifically asked them
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and I found out that they also believed
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that the two together a will and a power
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of attorney would cover them and would
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protect their family when they passed
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away unfortunately nothing could be
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further from the truth
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now the will will Eadie will do you some
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some good but they have been extremely
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surprised to learn that their power of
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attorney would cease to exist when they
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die and that is why it is so important
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to speak with an estate planning
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attorney when you're thinking about
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doing your estate planning if you have
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any questions or concerns please don't
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hesitate to call us here at the Cortez
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law firm we are here to help now that's
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all for today we'll see you next time
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thank you for joining us
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