A power of attorney (POA) is a legal document that you can use to appoint someone you trust — perhaps a family member or close friend — to make decisions on your behalf in certain situations. Whether it’s for managing your finances, making health care decisions or handling legal matters, having a POA in place can help to ensure that your affairs are managed in the way that you wish if you are unable to manage them yourself.
While it is never easy to think about a situation in which you may not be able to make decisions for yourself, it is important to prepare for this possibility. A POA is a powerful tool that can provide peace of mind to you and your loved ones in the case you become unable to manage your own affairs.
How a power of attorney can help you and your loved ones
Life is unpredictable, and an accident, serious illness or even advanced age can potentially affect your future ability to manage your affairs. Without a POA in place, your loved ones may need to navigate a lengthy and costly legal process to obtain the authority to make decisions on your behalf. A POA can help eliminate this uncertainty by designating someone you trust to step in and handle things immediately.
A durable POA can be particularly valuable in managing financial and legal matters if you’re incapacitated. This document allows your agent to pay bills, manage investments, file taxes and even make business decisions for you.
A health care POA gives you the power to appoint someone to make medical decisions for you if you are unable to communicate. This helps ensure that your health care preferences, such as life-sustaining treatments or end-of-life care, are followed even if you cannot speak for yourself.
Seeking legal guidance can help you create a POA tailored to your specific needs and better ensure that your legal, financial and health care decisions are in safe hands.
