Many people begin estate planning to make sure their affairs are taken care of after their passing. However, another crucial element of this process is dictating your wishes regarding medical treatment should you become incapacitated. This usually involves naming a power of attorney (POA) to make decisions on your behalf, as well as stating your feelings about certain end-of-life treatments in a living will. The guide below takes a brief look at these declarations and why they matter so much.

Power of Attorney

There are two main types of power of attorney—medical and financial. However, in either case, the person elected to this role is given the ability to act in your stead. For example, if you have no wishes stated one way or another, the medical POA will be the one to ask your doctors about certain treatments they are considering and weigh the pros and cons of whether you should go through with it. The financial POA will have access to your bank accounts so they can continue paying your bills. These roles can, but do not always have to be, confined to one person. Therefore, choose someone—or someones—you explicitly trust, such as a spouse or a close sibling.

Living Will

If, however, you already know how you feel about being put on life support machines, being given a feeding tube, or resuscitation efforts, such as CPR, you have a right to outline these preferences in a living will. In this document, individuals can make specific requests, such as whether they’d like to stay in the hospital or be transferred to a hospice center. If their religion or personal principles involve any other end-of-life guidelines, these would be included as well. This can guide the power of attorney—and possibly prevent arguments between your family members over what you would have wanted.

If you’re interested in the estate planning process and would like to get started on a living will and a power of attorney, get in touch with Corey C. Davis, CPA, Attorney at Law of Kerrville, TX. For over a decade, he has provided both legal and accounting services to area clients. For more information on his practice areas, visit the website, or call (830) 257-8800 to schedule an appointment.