A Power Of Attorney (POA) is a legal document that gives someone you choose the power to act in your place and make decisions on your behalf. You may choose to appoint a trusted family member, friend, or an attorney to make financial and healthcare choices at a time when you are unable to speak for yourself. Creating a power of attorney now can help to avoid the expense and potential conflict of future conservatorship proceedings. There are two types of POAs: Health Care Directive(sometimes called a “Living Will”) and Asset Management. These will give the agent the ability to act on your behalf for both health care and financial decisions.
A regular POA expires when the principal (you) becomes incapacitated. This is not what you want. However, a DURABLE Power of Attorney will help in this matter. What if an accident or serious illness left your incapacitated? What if something happened to you that leaves you unable to make necessary financial decisions? Or unable to tell your doctor what kind of medical care you wish to receive?
Powers of attorney can become effective at the time the document is created. Documents may also be written to become effective only when or if you become incapacitated. In most cases, they expire upon your death.