Understanding The Importance Of Powers Of Attorney
In the event you become incapacitated by an injury or health problem, do you know who will make critical decisions about your legal affairs, finances and health care needs?
Durable Powers Of Attorney
A power of attorney (POA) is a legal document that you sign to grant legal authority to make decisions on your behalf. Assigning a POA to a trusted member of your family does not mean you are giving up your rights to make decisions on your own behalf. A POA is not something a family member can petition the courts for either. It is freely granted and must be signed in the presence of two witnesses and notarized.
What Do Powers Of Attorney Cover?
A POA may be full or partial to suit your specific needs. When you grant someone a power of attorney, you may be very specific about the types of legal, financial and health care decisions and transactions you allow him or her to make on your behalf.
The Difference Between A POA And An Advance Health Care Directive
An advance health care directive is often referred to as a living will. It does not grant anyone a power of attorney to make financial, legal decisions or medical decisions on your behalf. A living will stipulates the extent of health care treatment you authorize doctors to provide at the end of your life. A doctor is not legally bound to follow the terms of the advance directive but will be absolved from liability if he or she does adhere to it. The primary benefit of an advance health care directive is that it removes your spouse and family members from making emotional decisions about continuing medical treatment at the end of your life.
It is important to update your powers of attorney documents, living will and all other estate planning documents every five years or with each major life event.
Estate Planning Lawyer William J. Benz – Over 3 Decades Experience
If you reside in Bucks County, Montgomery County or anywhere in the Philadelphia metropolitan area and need help with your probate and estate planning needs or documents, turn to William J. Benz, Attorney at Law in Southampton, Pennsylvania, for help. I offer more than 30 years of knowledge and experience to make sure you are making the right decisions about your estate planning needs and goals.