As we go through life, we often encounter situations where we need someone to make important decisions on our behalf. A Power of Attorney is a legal document that allows someone else (an "attorney") to act on your behalf. This person doesn't have to be a lawyer - in fact, most POAs are granted to family members or close friends. There are two main types of POAs:
Power of Attorney for Property
Also known as a "Financial Power of Attorney", the POA for Property gives your attorney the authority to make financial decisions on your behalf. This could include paying your bills, selling your property, and managing your investments. Without a POA for Property, your family would have to go through a lengthy legal process to manage your finances if you were mentally incapacitated.
Power of Attorney for Personal Care
A POA for Personal Care appoints someone to make health care decisions for you cannot make them yourself. This person is often referred to as your substitute decision maker. To help make decisions, some people attach a Health Care Directive to their POA for Personal Care that includes their preferences about specific medical treatments.
How to write a Power of Attorney?
Any estate lawyer can write you a power of attorney at the same time you write your Last Will and Testament.
If retaining a lawyer sounds overwhelming, LegalDeeds makes the process simple and straightforward. Our easy online platform provides affordable, customizable templates for a Financial Power of Attorney and a Health Care Directive, ensuring that you get the document that best meets your needs.