Articles

Power of Attorney

A power of attorney can be a very useful document to create. A power of attorney is the legal assignment of the position of decision-maker for you if you are ever unable to do this yourself. This means that if you are ever incapacitated and cannot make your own decisions regarding finances or healthcare, there is someone in place to do this for you. Since, after this has already occurred, you will no longer be able to properly make that decision, it is best to have a power of attorney in place before it ever happens.

There are two main types of powers of attorney: healthcare/medical and financial. You can assign both positions to one person, or you can have separate people hold these positions. You can assign limitations on a power of attorney (known as a limited power of attorney), or you can let the agent have full control without your regulations (known as a general power of attorney).

If you do not set up a power of attorney, it will be left up to a court to decide who will be in charge of what happens to you and your estate. This is why it is so important to set up a power of attorney. It is also important to do this sooner, rather than later, because the unexpected (no matter how much we don’t want to believe it) can actually happen at any time.

To learn more about the types and importance of powers of attorney, see the links below:

Durable Power Of Attorney
Learn here what the term “durable power of attorney” means and when the best time to get a durable power of attorney is.

General Power Of Attorney
As mentioned above, a general power of attorney allows much more control than a limited power of attorney. Learn about this type of power of attorney in more detail here.

Limited Power Of Attorney
The exact opposite of a general power of attorney, see here why you might consider using one of these and the different methods in which you can.

Medical Power Of Attorney
A medical power of attorney concerns only decisions based on medical care. Learn why you need a medical power of attorney even if you have a living will here.

Healthcare Power Of Attorney
A healthcare power of attorney can be limited or general. Learn the differences between these two types of healthcare powers of attorney here.

The Purpose Of A Power Of Attorney
The true purpose of a power of attorney is explained in great detail with an example of a situation that can be avoided if you have a power of attorney.

Who Should Have A Power Of Attorney
If you aren’t sure whether or not you should have one, read here to find out if you should.

Cost Of A Power Of Attorney
Discusses the cost of a power of attorney and the cost of not having one.

When To Get A Power Of Attorney
Learn here the best time to create a power of attorney and why this time is the best time.

Things To Consider For A Power Of Attorney
Many people have a hard time deciding who they should appoint as conservator or guardian in their powers of attorney. Learn here the things to consider when appointing someone in your power of attorney.