Powers of Attorney
A power of attorney is a legal document often referred to as a 'POA'. The purpose of the document is for a person, called the 'grantor', to give someone they trust, called the 'attorney' (not your lawyer), the authority to act on their behalf should they become unable. There are two types of powers of attorney.
A power of attorney for personal care gives the 'attorney' the authority to make decisions about your health care and other aspects of your personal life if you become mentally incapable of making decisions about your personal care. Decisions about your health care include whether you receive medical treatments or move into a care home. Decisions about your personal care include where you live and aspects of your daily life, such as what you eat, what clothing you wear, and when you are bathed. In a power of attorney for personal care, you can indicate some of your wishes and preferences, such as your desire to reside in your home as long as possible or your desire for doctors to use life support to keep you alive if you suffer from an illness or accident that would cause your death. If you specify such wishes and preferences in your power of attorney for personal care, your 'attorney' must make every effort to abide by them.
A power of attorney for property gives the 'attorney' the authority to make decisions about your finances, such as doing your banking; paying your bills and other debts; purchasing goods and services; making investments; applying for a loan; and buying, selling, or leasing your home. You have the authority to indicate when the power of attorney for property comes into force. It can be when the document is signed or for a specified period of time, such as when you are away on vacation or sick. You can also indicate that the power of attorney for property only comes into force if you become mentally incapable of managing your finances, which makes the document a continuing power of attorney for property. You can limit the authority that the 'attorney' has to make decisions, such as requiring them to consult with your family or financial advisors before making certain decisions or restricting their power to only permit them to sign a document for the sale of your home.
If you wish to prepare powers of attorney for the first time, or change your current powers of attorney, I can help. I offer a free 20-minute phone consultation where you can inform me of your wishes and concerns, ask questions, and determine next steps. I look forward to hearing from you!
