Power of Attorney
Durable Power of Attorney
A durable power of attorney names a trusted person to make financial decisions on your behalf, in the event you are unable to act for yourself, due to accident or illness. A durable power of attorney is crucial for anyone who wishes to protect and preserve their assets. Most importantly, it prevents the necessity of a guardianship proceeding, which can be time consuming and costly. A properly drafted power of attorney will allow a person that you choose to pay bills, make gifts, sign tax returns, and apply for government benefits, which can be helpful in saving taxes and other costs.
Healthcare Power of Attorney
This document names a trusted person to make health care decisions for you if you cannot do so. It is often combined with an advance medical directive.
Advance Medical Directive
An Advance Medical Directive, also called a “living will,” states your wishes as to life sustaining treatment if there is no reasonable prospect of your recovery and guides your health care agent as to your desires regarding life sustaining treatment. (This should not be confused with a “Do Not Resuscitate” order, in which a person in poor health elects to forgo all life saving treatment).
Find out how Kathy can make designating a power of attorney easier for you with a free consultation.
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