People across the country might use powers of attorney for many different reasons. These can be valuable ways for people to have their wishes honored if they are unable to make decisions for themselves. A power of attorney can be important to help people make medical decisions for their loved ones if they are incapacitated.
However, a POA can also be helpful for family who might need to make financial decisions for their loved ones. Sometimes a person might be unable to make medical or financial decisions because of an accident. If they have a proper power of attorney a loved one that they trust could be dedicated to make decisions, sell property, pay bills and handle other financial matters.
While there are different types of powers of attorney, each one of them can be extremely important. Speaking with an experienced estate planning attorney can help establish a power of attorney in conjunction with a solid estate plan. When people don't have a power of attorney, it may be difficult for their loved ones to handle their financial and medical decisions if the person can't make the decisions on their own.
Sometimes there might never be a situation where a power of attorney actually has to be used, but not having one could make a difficult situation very frustrating for family members. Planning for the unexpected can help make sure all of a person's bills are paid and medical decisions are made in accordance with their wishes.
Source: Investing Daily, "An Estate Plan Essential," Bob Carlson, Dec. 4, 2012
-Estate planning attorneys can help a person make a power of attorney. To learn more, please visit our website.