What types of powers of attorney exist, and how do they work?
Answer:
Our attorney compares a durable financial power of attorney that is effective immediately with one that becomes effective after a stated future event. Durability concerns whether authority survives incapacity; the start date and recording requirements are separate questions that depend on the document and South Carolina law.
Current-law clarification — October 19, 2026: For covered financial powers, effectiveness and recordation are separate. The default is effectiveness upon proper execution unless the document provides otherwise; recording is required before an agent exercises authority after incapacity. See Section 62-8-109.
Our attorney discusses two ways to set the starting point for authority under a durable financial power of attorney. One arrangement is immediately effective, while a springing arrangement begins only when a specified event or condition occurs.
Under South Carolina’s statute, a covered financial power of attorney is generally effective upon proper execution unless the document provides for a future date or contingency. Describing it as effective only upon recording is too broad.
After the principal becomes incapacitated, the agent may exercise covered authority only if the document has been recorded as Section 62-8-109 requires. Durability means that incapacity does not itself terminate the power; it does not determine when the document first becomes effective.
A power of attorney lawyer can explain these distinctions and help draft the authority and triggering conditions to fit your needs.