A power of attorney is defined as a legal document that gives the person of your choice the power to act on your behalf. If you do not have a durable power of attorney and you become incapacitated, it becomes up to your relatives or family members to decide who will manage your affairs. When an individual is either ill or incapacitated, it is often necessary for someone to step in and handle the financial and/or healthcare decisions. To avoid leaving this decision up to a court, you need to obtain a power of attorney that gives the authority to make decisions to the person of your choice. Should you ever become incapacitated and unable to handle matters on your own, you’d want a durable power of attorney in place, so that the document stays in effect once you are incapacitated rather than becoming invalid, as ordinary powers of attorney do in the case of incapacitation. Although it is possible to have just one power of attorney document for both medical and financial power of attorney, it is not advisable.

The Two Kinds of Powers of Attorney

Medical Power of Attorney is a document that spells out your healthcare wishes in case you are ever too ill or too injured to speak for yourself

Financial Power of Attorney is a document that gives someone the authority to make financial decisions on your behalf.  For a durable power of attorney for finances, this individual can also make financial decisions for you if you become incapacitated in any way

You can find out more about the financial side of estate planning on our estate planning page.

You may not think that you need a power of attorney if you are married or have a living will or some other circumstance. However, a durable power of attorney will make everything easier for your family should you ever become incapacitated. Some institutions can even refuse to work with a spouse without a valid power of attorney document in place, and a living trust is not a complete substitute for a durable power of attorney for finances. Incapacitation or death of a family member is quite traumatic, and for something this important it is in you and your family’s best interest to obtain the assistance of an attorney experienced with power of attorney legal services.

Related Posts
Affordable Power of Attorney Lawyer
Not all legal transactions are personally entered into by a person. Some of these transactions are through an agent known as attorney in fact via a document giving power of ...
READ MORE
Punishments And Penalties for DUI/DWI
No crime goes unpunished. No other crime in the US gets more offenders behind bars than Driving Under the Influence or Driving While Intoxicated offenses. Laws per state vary but ...
READ MORE
What happens in a traffic ticket jury trial?
Just like any trial in front of a judge, the jury will be selected, and then the judge or clerk will have the jurors sworn in. Most traffic ticket jury trial ...
READ MORE
Common Commercial Lease Terms
The commercial lease clauses are the written and binding agreement on the real estate you will rent for your business. It will help you avoid trap and negotiate for bargains ...
READ MORE
Traffic Laws in the US
Traffic laws in the United States vary because every state enacts its own regulations and laws. America has a strict judicial system. There are different sets of traffic laws in ...
READ MORE
Drunk Driving
Drunk Driving is the act where in the driver drives the vehicle under the influence of alcohol or drugs. This is to such an extent that the person does not ...
READ MORE
What is involved in filing for bankruptcy
People who are having problems paying their financial obligations sometimes consider bankruptcy to acquire comfort from selection initiatives, remove some or all of their financial obligations or rebuild their debt ...
READ MORE
What to do when your tenant doesn't pay rent
The landlord has the right to evict the tenant especially when the tenant hasn't paid the rent on full and on time. However, the landlord has no right to evict ...
READ MORE
Renting Office Space: Know What’s Involved
Office spaces are efficient for business owners and entrepreneurs to run their operations. Sometimes, sharing these commercial spaces with another person in the same line of profession or business is ...
READ MORE
Chapter 7 Bankruptcy
If you go for Chapter 7 bankruptcy, you may have a lot or all of your debts canceled. On the other hand, you might need to sell some or all ...
READ MORE
Affordable Power of Attorney Lawyer
Punishments And Penalties for DUI/DWI
What happens in a traffic ticket jury trial?
Common Commercial Lease Terms
Traffic Laws in the US
Drunk Driving
What is involved in filing for bankruptcy
What to do when your tenant doesn’t pay
Renting Office Space: Know What’s Involved
Chapter 7 Bankruptcy