Power of attorney documents
What is a Power of Attorney?
- A Power of Attorney is a document that gives a designated person control over your medical or financial decisions when you are unable to make those decisions for yourself.
What are the different types of power of attorney documents?
- Medical Power of Attorney
- A medical power of attorney gives a designated power the ability to make medical decisions for you when you are unable to make those decisions. These situations occur when a person is incapacitated and not able to make life altering medical decisions for themselves.
- Financial Power of Attorney
- A financial power of attorney gives a designated person the ability to make financial decisions on your behalf. These situations also occur when you are unable to make those informed decisions for yourself.
What happens if you are incapacitated without power of attorney documents?
- If you are incapacitated, and you do not have a power of attorney document executed, then a doctor will make the medical decisions for you. Since your wishes would not be set out, a doctor will make an informed decision on your behalf. Even if you do not wish for things to be done medically, they will have the ability to do what they deem best at that point in time. If you are under 18, then a parent can make medical decisions on your behalf.
- Alternatively, if you do not have a financial power of attorney document executed, and you are incapacitated, then someone will have to petition the court to have an individual named to control your finances. A judge can decide to name an individual, a committee, or someone else of their choosing.
How can I execute a power of attorney?
- A power of attorney can be executed by being signed in the presence of two competent adult witnesses or by being signed in the presence of a notary public.
How should I pick someone to be my power of attorney?
- Picking someone to be your power of attorney holder is a process that should not be taken lightly. This is a person who will be able to make decisions on your behalf if something happens to you. A trusted member of your family would be a good place to start. Whether that is a partner, parents, or sibling, a trusted family member is always a good choice to hold your power of attorney. You can also select a close friend to be your power of attorney. Whichever way you decide to go, someone that you trust, and you believe knows your wishes is a good choice.
What does a power of attorney holder do?
- A person who holds your power of attorney will make important decisions for you if you are unable to do so. If you are in the hospital and unable to make medical decisions for yourself, a trusted power of attorney will make the decision for you. They will hopefully make the decision that you would want made. The same goes for financial power of attorney. They can make investments, make payments, etc., on your behalf.