What is a Power of Attorney?
April 15, 2017
A Power of Attorney is a legal document in which you grant someone else the ability to make decisions on your behalf if you are otherwise incapable. There are a few different types of power of attorney, and different ways to go about obtaining one. Here are some things to consider.
Different Types of Power of Attorney
When seeking out a power of attorney document, there are a few different types to keep in mind, depending on the situation. Here at DK Rus Law, our experience in Maryland estate planning means we have the knowledge to help you draft proper power of attorney documents. Here are the most common types of power of attorney:
Durable Financial Power of Attorney
A durable financial power of attorney is used when someone wants to name a person who can make financial decisions on their behalf in the event they become unable to do so themselves. This is commonly used for someone who wants to protect or preserve their assets in the event of an injury, accident, or illness.
This type of power of attorney is important because it can prevent a guardianship proceeding which can be time-consuming and costly. A person with a durable power of attorney can pay bills, sign tax returns, apply for government benefits, and more on behalf of the incapacitated.
Healthcare Power of Attorney
A Healthcare power of attorney will name a trusted person who can make health care decisions on your behalf. This type of power of attorney is often paired with an advance medical directive.
Advance Medical Directive
Also known as a living will, an advance medical directive will list your wishes regarding life-sustaining treatment if you are terminally ill or in a permanent vegetative state. It will also help to guide your health care agent (the person you entrusted in your healthcare power of attorney) about your final wishes. Do not confuse this with a DNR (do not resuscitate order) as they are two different things. It’s useful to consult with an experienced Maryland estate planning attorney when writing an advance medical directive, as they can explain your choices and guide you as to the best language to include.
How to Obtain a Power of Attorney
Writing a power of attorney in Maryland can become technical and confusing, so partnering with a professional Maryland estate planning attorney, who has done it many times, will ensure that your power of attorney achieves what you want.
DK Rus law is an experienced estate planning attorney with an extensive knowledge of power of attorney documents. For help with drafting financial or healthcare powers of attorney, get in touch with DK Rus law today for a free consultation on how we can help. We can be reached via phone at 410-591-6992 or by filling out the form on our website.
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