What is the difference between a springing and an immediate power of attorney?

An immediate (or 'standing') power of attorney takes effect as soon as you sign it, letting your agent act on your behalf right away. A springing power of attorney 'springs' into effect only when a defined event occurs, usually your incapacity as certified by one or more physicians. Springing versions feel safer because your agent has no power while you're healthy, but they carry a real drawback: proving incapacity can cause delays, and some banks resist honoring them because of the extra step. Many attorneys now favor an immediate power held by a highly trusted person, or keep the signed document with the attorney until needed. The right choice balances your trust in the agent against the risk of delay in an emergency.