Durable Power of Attorney gives the loved ones you appoint, the authority to make decisions for you should you become incapacitated or unconscious. Without these important documents, your relatives may have to go to court to get the right to pay your bills or tell doctors what medical treatment is preferred.
Medical Power of Attorney
The Medical Power of Attorney gives your appointed agent the authority to decide how to treat you should an accident, illness or age-related health problem render you incapable of making the decisions yourself or communicating them to a health-care professional. In addition to the Power of Attorney for Health Care, you should discuss your wishes for treatment with your loved ones and create a Living Will that expresses those preferences. For instance, should you be injured in a car accident, how long would you want to be on a ventilator? An Advance Health Care Directive combines the instructions from both a Medical Power of Attorney and a Living Will. This may be an option to discuss with an attorney.
Durable Power of Attorney for Finances
Much like the Durable Power of Attorney for health care decisions, the Financial Power of Attorney gives your trusted loved one the authority to make financial decisions if you are incapable of doing so. Your financial agent will be able to access your accounts, pay bills and handle your investments. He or she can also open mail, settle real estate transactions, discuss matters with you accountant or attorney and file taxes on your behalf. You have the option to determine how extensive the Power of Attorney should be.
Who needs Durable Powers of Attorney?
All adults should have Durable Power of Attorney as accidents unfortunately happen. It’s especially important though for older people, and anyone without a clear legal chain of relation such as unmarried couples, gay and lesbian couples, and single adults. Anyone with a diagnosed debilitating disease should create Power of Attorney.
Who should I choose as my agent?
Select a trusted friend, relative or colleague. Some people choose professionals, such as accountants or attorneys, to serve as their agents. That is not necessary, as the person doesn’t need to be an expert. They just need to have an understanding to your wishes and good common sense. You can assign the same person for both medical and financial Power of Attorney but it is not required and you should create two documents even if you are naming the same agent for both. If you choose a different person for each, make sure both agents communicate well with each other and get along.
There are cookie-cutter online forms to designate Durable Power of Attorney but how do you know which ones to trust? Most are not free and you, unfortunately, may not know until it’s needed that the form you selected is not valid for your circumstances. Family Law attorneys like Kathryn Wayne-Spindler & Associates help clients create personalized, legally-dependable documents they can trust. Our attorneys only suggest what is right for you and your family and will not over-charge you for unnecessary work. Be wary of the attorney that immediately tells you that you need a comprehensive and expensive trust. Contact us at 248-676-1000 to discuss your Power of Attorney needs.
Kathryn Wayne-Spindler & Associates have many satisfied clients throughout the five counties of Southeastern Michigan – Oakland, Washtenaw, Wayne, Genesee and Livingston. The Michigan Family Law Attorneys of Kathryn Wayne-Spindler & Associates have one simple objective: to handle our clients’ legal worries so they can concentrate on life and family. Contact Kathryn Wayne-Spindler & Associates today to learn more about our experience and success at 248-676-1000. We are conveniently located in Milford, Michigan. We help clients throughout Milford; Highland; Hartland; White Lake; Commerce; Waterford; West Bloomfield; Walled Lake; South Lyon; New Hudson; Wixom; Linden; Holly; Fenton; Grand Blanc; Flint and many more local communities.