While going over your estate plan, a counselor will ask who you want to have power of attorney (POA). In the event you are incapacitated, the person named on the document will make decisions regarding your affairs. The guide below explains what this entails in more detail.    

Power of Attorney FAQ

What are the responsibilities involved?

You can appoint someone to act as your POA with the power to handle all decision-making for you. Alternatively, you can grant them specific POA authority to deal with one aspect of your affairs. For example, a Medical Power of Attorney could make calls related to your treatment—such as whether to go through with a risky procedure or whether to put you on life support machines. 

Why is POA important?

As much as you might not want to consider the possibility of an accident or disease that renders you incapable of making your own decisions, doing so can spare your family additional stress. Without a POA named, for example, no one might have the authority to access your bank account, so bills might go unpaid. To gain the ability to act on your behalf, your loved ones will have to go through a different legal process to get conservatorship, which is more difficult and time-consuming.

How do I appoint someone and can I change it later?

When you speak with your lawyer, they will provide POA forms to fill out. You can revoke POA, change the terms, or assign a new agent as long as you are competent. You should also consider drafting a living will, which specifies your wishes in regards to certain key medical decisions, to guide the person acting in your interests.

When will power of attorney take effect?

There are some kinds of POA that go into effect once the document is signed. However, for estate planning purposes, your attorney will draft a “springing POA,” which will only go into effect if a specific event outlined in the document occurs, such as if you develop Alzheimer’s.

For estate planning assistance, contact The Law Offices of Bromm, Lindahl, Freeman-Caddy & Lausterer in Wahoo, NE. Since the firm was founded in 1893, the lawyers have been drafting wills, setting up living trusts, arranging power of attorney documents, and providing additional assistance to safeguard your future. For a consultation, call (402) 443-3225. Learn more about the team’s areas of expertise online.