Our Estate Plan includes two legal documents that could be a tremendous help to your loved ones should you become incapacitated and unable to handle your financial matters or make your own health care decisions.
Healthcare Power of Attorney
This is a legal document through which you give another person permission to make medical decisions on your behalf if you are no longer able to do so. Also known as a Medical Power of Attorney and usually used in conjunction with a Living Will, this important document can help put your mind at rest if you are concerned about receiving unwanted medical treatment or if you'd like health care providers to do all they can to prolong your life.
Financial Power of Attorney
A durable power of attorney is a legal document in which you authorize another person to manage your financial affairs if you become incapacitated for some reason.
Also called your "Attorney-in-fact for finances", this is a person you trust to handle your finances if you are no longer able to do so. If you haven't prepared a durable power of attorney and you become incapacitated, your spouse, companion or your closest relatives will be forced to ask a court for the authority to handle at least some of your financial affairs. Called a "Conservatorship proceeding" in most states, this can be a very time consuming and expensive process.
If you have prepared a financial durable power of attorney, it becomes a simple and inexpensive process if you become incapacitated. This document is essential for those that are left to handle your affairs.
Contact us today if you have any questions about our Powers of Attorney documents or if wish to schedule an appointment to talk about a complete Estate Plan.