Powers of attorney
A Financial Power of Attorney allows a trusted person whom you designate to handle your financial affairs in the case that you become incapacitated. Such assigned tasks can include paying bills, managing your financial accounts and making investment and even business decisions.
A Medical Power of Attorney gives a trusted person whom you designate the ability to make medical decisions for you in the case that you become incapacitated. This includes what medical procedures, treatments and medicines you may be given while in an incapacitated state.
With either a Financial or Medical Power of Attorney, there are two basic types that determine when the document becomes effective:
- Springing power of attorney, which takes effect only under terms you specify and may require your agent to prove your incapacitation in a court of law.
- Durable power of attorney, which is effective immediately and requires no such proof.
You should consult your lawyer to determine which of these Powers of Attorney best fits your needs.
