Whether you are single, married, a parent or not, it’s wise to execute a durable power of attorney. This important estate planning tool helps protect your legal and medical rights even when you are not able to do so. Here is why this document should be part of your legal portfolio.  

What Is a Durable Power of Attorney?

A power of attorney is a legal document in which you designate someone as an agent to make decisions and act for you in personal, business, or health-related matters.

A durable power of attorney remains effective if your doctor declares you are mentally incapacitated. Examples of incapacity include being in a coma or suffering severe dementia in late-stage Alzheimer’s disease.

What Benefits Does a Durable Power of Attorney Offer?

The most important benefit of a durable power of attorney is your designated agent has the authority to continue acting for you when you cannot. This durability feature means your loved ones avoid the expense and difficulty of going to court to obtain guardianship over your person or property.

Another benefit is that you choose the individual who makes decisions for you, rather than a court appointing someone or family members arguing about making decisions.    

Who Should You Appoint as an Agent?

When selecting an agent, consider whether you trust them to keep your best interests as their primary concern and their ability to act under pressure. Many people choose a spouse or sibling, although the individual does not have to be a family member.

Typically, an agent has access to confidential financial, medical, and business records, so consider their willingness to keep your information private unless necessary to share it with others. You can change or add agents and increase or decrease the scope and terms of their authority as long as you are mentally capable.

Amending, destroying, or revoking the original document or creating a new one are ways of making changes. Consulting a lawyer before drafting or changing the document ensures your wishes are expressed clearly and the paperwork meets all legal requirements.    

If you’re considering whether to execute a durable power of attorney, seek counsel from McPherson & McPherson Attorneys at Law. For over 20 years, this law firm has helped residents of Coupeville, WA, prepare and carry out responsibilities called for in these documents. They offer clients professionalism, compassion, and individualized attention throughout the decision-making and document preparation process. Call (360) 678-4407 today to schedule a consultation and visit their website to learn more about their areas of practice.