Power of Attorney
Take Control of Your Future with Power of Attorney
Granting someone Power of Attorney is one of the most important decisions you can make to protect yourself and your loved ones. By assigning a trusted person to manage your affairs if you’re unable to, you ensure your financial and healthcare decisions are handled according to your wishes.
What Is a Power of Attorney?
A Power of Attorney (POA) is a document that allows you to appoint someone to act on your behalf for financial or healthcare decisions if you’re unable to do so yourself. This legal tool is essential for protecting your interests in situations where you may be incapacitated or unavailable.
Benefits of Power of Attorney:
- Financial Protection
Your appointed agent can manage bills, investments, and other financial matters, preventing gaps in managing your affairs. - Healthcare Decisions
A healthcare POA ensures that medical decisions align with your wishes, even if you’re unable to communicate. - Avoiding Court Intervention
By having a POA in place, you can avoid court-appointed guardianship if you become incapacitated. - Peace of Mind
Knowing your affairs are handled by someone you trust brings comfort to you and your family.
FAQs
Find answers to common questions about different types of Powers of Attorney (POA), when they become effective, and how they can protect you and your family.
What is the difference between Durable and General Power of Attorney?
A Durable Power of Attorney remains in effect even if you become incapacitated, while a General Power of Attorney is only valid while you’re capable of making decisions. For estate planning purposes, we typically recommend Durable Power of Attorney.
When does a Power of Attorney go into effect?
A Power of Attorney can take effect immediately upon signing or be contingent on future events, like incapacity, depending on your preferences.
Can I appoint more than one person as my agent?
Yes, you can appoint co-agents to work together or list alternates if your first choice is unable to serve.
Can I revoke or change my Power of Attorney?
Yes, as long as you are mentally competent, you can revoke or change your Power of Attorney at any time.
Does a Power of Attorney give someone control over all my assets?
Not necessarily. You can limit the scope of authority in your Power of Attorney document to only cover certain assets or decisions.
Do I need both a Financial and Healthcare Power of Attorney?
Yes, it’s generally recommended to have both a Financial Power of Attorney for managing assets and a Healthcare Power of Attorney for making medical decisions on your behalf.
