This means that the document will remain in effect or take effect if you become incapacitated. “Durable” Power of Attorney – the general, special, and health care power of attorneys can all be made “durable” by adding certain text to the document.Health Care Power of Attorney – allows you to appoint someone to make health care decisions for you if you are incapacitated.Special Power of Attorney – authorizes your Agent to act on your behalf in specific situations only.General Power of Attorney – authorizes your Agent to act on your behalf in a variety of different situations, including handling your financial and legal affairs.Here are some types of power of attorneys: There are various types of power of attorneys. If not, you must be sure to name people who will work well together. That being said, though you should make separate power of attorney documents for your financial affairs and your health care decisions, it may make a good deal of sense to name the same agent under both documents. Likewise, your doctors do not need to be burdened with your financial information. ![]() ![]() Making separate documents will keep life simpler for your agent and others.įor example, your health care documents will likely be full of personal details that your financial agent does not need to know. Technically, you could – but it is usually not a good idea. You may wonder why you cannot cover finances and health care in one single power of attorney document. In order to cover all the issues related to power of attorneys it makes sense to have two separate documents: one that addresses your financial affairs and one that addresses health care issues. If you do not have a durable power of attorney and something happens to you, your loved ones may have to go to court and initiate a guardianship in order to handle your affairs. It is well worth the cost and time required to set up a power of attorney. You may also name an entity as your agent under a power of attorney such as a bank, trust company, or a company providing professional guardianship and trust services. If you have a valid power of attorney, the person you name will be legally permitted to take care of important matters for you such as pay your bills, manage your investments, and direct your medical care if you are unable to take care of these matters yourself. An ordinary, or “nondurable,” power of attorneys automatically ends if the person who makes it loses mental capacity. A durable power of attorney means the document remains in effect even if you become incapacitated and are unable to handle your own affairs. If you were ever to become mentally incapacitated, you would need a “durable” power of attorney for your finances and medical care. A power of attorney is a legal document that gives an agent of your choosing the power to act in your place.
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