POWERS OF ATTORNEY
Generally speaking, a power of attorney is a document that is executed by an individual while he or she is legally competent, which authorizes another individual (his or her agent) to act on
behalf of the individual in the event that he or she becomes unable to make decisions for himself or herself.
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There are two types of Powers of Attorney:
1) Healthcare
Allows designated agent to make health care decisions on behalf of the individual including consent to treatment/surgery, transfer to facility, implement healthcare, have access to protected health information
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2) Financial
Allows designated agent to have access to handle, manage, and control individual's property including banking, paying bills, accessing assets to pay for individual's care
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To have these documents prepared, Attorney Stacy E. Dame asks individuals to give some thought not only to who he or she would feel comfortable designating to make decisions on his or her behalf, but also who is going to be willing to make these decisions on behalf of the individual when the time requires.
The names, addresses, and phone numbers of the chosen agents need to provided to the attorney to have the documents prepared.
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It is important to note that the agents selected do not have to be the same individuals for both the healthcare and financial power of attorneys. Different individuals can be named to act in these respective capacities.
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Why do I need a Power of Attorney?
Powers of Attorney are an important planning tool and they take care of the individual during an individual's lifetime. It is important for individuals to consider executing a power of attorney while the person is able to and is competent to enter into such a document. When an individual becomes incompetent or unable to handle his or her own affairs, he or she is also usually not able or competent to execute a power of attorney.
Without a power of attorney document, no other individual can act on the individual's behalf without applying to the local Probate Court to be appointed as the individual's guardian. Many people try to avoid guardianship proceedings because not only does it involve a court proceeding requiring numerous documents to be completed, but the guardian has to seek permission of the Probate Court before taking action on behalf of the individual, and then report back to the Probate Court concerning any action taken. A power of attorney can avoid the need for guardianship proceedings later on.
If you have additional questions concerning Power of Attorney documents, call to schedule your free consultation to discuss matters further.
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