As you get older, you need to make sure that your affairs are in order, and you may have heard that you need to get a power of attorney. Before deciding who you want to be your power of attorney, you need to understand what a power of attorney is and what they can do.
Learn more about appointing a power of attorney for yourself, and reach out to an estate planning lawyer who can help you.
An Overview of a Power of Attorney
A power of attorney refers to a legal document that will give one person, typically called the agent, the power to make decisions on behalf of someone else, usually called the principal. This means that if you appoint someone else as a power of attorney for yourself, you will be the principal, and the person who takes action and makes decisions on your behalf will be called the agent.
It is important to appoint a power of attorney to handle legal documents and watch over financial matters on your behalf if you are unable to do so. In addition, you need to work with a lawyer who can decide whether you want to create a durable power of attorney or a springing power of attorney. A durable power of attorney starts when you sign the document, and a springing power of attorney only kicks in if you become incapacitated.
Different Types of Powers of Attorney
There are multiple types of powers of attorney. For example, you may want to appoint someone to be your power of attorney to handle financial matters on your behalf if you are no longer able to do so. Or, you might be interested in appointing a power of attorney who can sign legal documents if you no longer can decide what is best.
You should also consider appointing a medical or healthcare power of attorney. This is someone who you will appoint to make medical decisions on your behalf if you are no longer able to decide what type of medical care you want to receive. You may also have an advanced directive, which will specify your wishes in advance. In this case, anything that is not specified in your advanced directive may be passed to your healthcare power of attorney.
Contact Yorkway Law Group for Help With Elder Law and Estate Planning
You need to make sure that you choose the right person to be your power of attorney. You may want to appoint your spouse to be your power of attorney, or you might want a different family member to make decisions on your behalf.
This is a major decision, and that is why you need to rely on an elder law lawyer who can help you. At Yorkway Law Group, we can review all aspects of your estate and make sure nothing is overlooked. Give us a call today to schedule a consultation, and let us help you get your affairs in order.