When does a Power of Attorney work?
What is a Power of Attorney and when does it work? It’s a document that allows someone you have appointed to handle your personal, health and financial matters, if and when you become incapacitated. If you become incapacitated, your family may need to petition the probate court to appoint someone to make your financial and healthcare decisions. This can be a lengthy process and you may not have a say in the decision depending on the circumstances. Wouldn’t you rather make this decision for yourself, ahead of time, and save your family the trouble?
Only during incapacity. Therefore, it should be set up when you are of sound mind and body, not when you are unable to make your own decisions. Unexpected things happen in life that could cause us to be unable to think for ourselves. Things we can’t even imagine!
Examples of when you wouldn’t be able to handle your finances or make your own healthcare decisions:
- an accident makes you unconscious
- a heart attack or stroke causes you to become unconscious and/or comatose
- an age-related mental decline
- a severe mental health issue
Are there different types of Powers of Attorney?
Yes. There are two listed below:
Durable Financial Power of Attorney
- allows you to appoint an individual to handle your personal financial matters if you become incapacitated
- avoids Probate Conservatorship
Healthcare Power of Attorney
- allows you to appoint an individual to make your healthcare decisions and provide for your care if you become incapacitated
- avoids Probate Guardianship
Are you ready to take care of yourself now in case you can’t in the future? Now’s the time! Don’t wait. We’ll come up with a plan together that meets your needs and I’ll help provide you with peace of mind.
Give me a call at (517) 708-2222 or email me at Katrina@CornerstoneLegalPLLC.com.