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Why
Should You Appoint a Power of Attorney?
One should create a power of attorney for their own safety. A power of
attorney is useful to have in case you become ill, unable to make
important decisions regarding finances or your health or if you are
incapacitated. It is important to appoint one early on, because we can
never be too sure what kinds of circumstances that life will bring us.
It is important to secure trusting and personal relationships amongst
friends and family. Being able to create a trusting relationship with
someone who may control your finances and health-related issues can be
tricky, although if you stay with those whom you trust the most, then you
shouldn't need to have to worry. Over time, our assets and financial
situations become very important. It is imperative to use that our
families be taken care of (should something happen later on) and that all
arrangements for funerals or property transactions are taken care of
properly.
Types
of Power of Attorneys
There are a variety of decisions
that a person with power of attorney can be allowed to make. Some of these
decisions may include:
- Making financial decisions
- Making health-care decisions such as with-holding or continuing
certain medical treatments, services or diagnostic procedures
- Making donations or giving monetary gifts
- Recommending a guardian
A person can normally
choose between two types of power of attorneys. They are:
- Continuing Power of Attorney/Power of Attorney for Property
Responsible for personal property and financial decisions
- Power of Attorney for personal care
Responsible for health decisions that include hygiene, shelter and the
right to consent to medical
treatment
There is also a "General Power of Attorney." The capabilities
of someone with a general power of attorney is very broad and they can do
a variety of tasks. This can be anything from handling bank transactions
to buying and selling property, settling claims, filing tax returns,
purchasing life insurance and handling situations that deal with
government benefits. An individual should decide what type of power of
attorney will work best for them in their situation. Each case may be
different. It could be that there could be a few different people
appointed with power of attorney who will have their own responsibilities.
Who
Can be the Chosen Power of Attorney?
| Before a person becomes incapacitated, they can choose
anybody to have power of attorney. It does not always have to
necessarily be a lawyer or any other legal representative. This can
be a spouse, parent, relative, child or a trusted friend. A power of
attorney arrangement can also be a paid one if the person chooses to
do. If a decision is not made about the financial details, a court
will rule on this matter. |
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Securing
the Power of Attorney Documentation
Once an individual has appointed someone with power of attorney and
have decided what their legal responsibilities should be, it is important
to secure the document and any other important forms. There are several
ways to document an individual choosing the power of attorney and his/her
responsibilities. One way to secure the document is to videotape the
individual and the person assigned power of attorney signing the documents
and going over the responsibilities and pay scale (should there be one).
Then the videotape should be stored with the document. Another way to
secure power of attorney is to take the documents and present it to a
lawyer for review. The lawyer can then testify on the behalf of the other
person and their mental capacity. A signed doctor's statement that
describes the patient's state of mind at the time of the signing can also
be used.
When
Does a Power of Attorney's Responsibilities End?
What is a power of attorney is no longer needed once the individual passes away
or if they should become mentally capable of making responsible choices
once again. An individual revoke a power of attorney by writing a document
and then presenting it to be notarized. These changes can only be made if
the document hasn't been registered. If the documents have been
registered, then there will be some extra steps to stop the rights of
power of attorney. If that individual is no longer a part of the state
that the documents were signed in, ("divorcing the state), then
rights may be revoked. A written statement that revokes the rights of
power of attorney can be registered at the same office where the original
file was filed.
Conclusion
Most of us would feel fearful about someone else handling such
important decisions, but it is necessary to carry on daily activities in
the case of an unexpected accident. It is best to be prepared so that we
don't leave stressful decisions on the shoulders of those whom we love.
Think about every decision that you need to make every day. Then decide
who would be the best person to do your "errands" when you will
be unable to. While sometimes life may take unexpected turns and puts
things on pause, the world around us still continues to spin. The decision
who to assign power of attorney should not be taken lightly, but it should
be something that you choose sooner rather than later.
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