What Does It Mean To Establish A Power Of Attorney?
Are you worried that an elderly family member has become incapable of making sound financial decisions independently? Have you considered establishing a power of attorney to protect the personal and financial interests of a loved one?
This can be a difficult and emotional decision for families. At Farrell, Hamilton & Julian, P.C., we help families establish powers of attorney that protect their loved ones’ best interests. We will explain the types of powers of attorney designations available and help you choose the option that meets your needs.
What Type Of Power Of Attorney Options Do I Have?
When a durable power of attorney is established, one individual designates another to make important health care and financial decisions on his or her behalf. In the event of incapacitation, the durable power of attorney assumes these responsibilities. Many people choose to designate an agent under a power of attorney when creating other estate planning documents such as wills and trusts.
Many people choose to create a living will as part of an effective estate plan. In a living will, an individual establishes his or her preferences for the use of life-sustaining medical treatments in case of terminal illness. If one day the individual becomes terminally ill, his or her preferences will have been documented and physicians will have direction as to what treatments, if any, are preferred.
Establish Powers Of Attorney Today
For more information about establishing durable or statutory powers of attorney or living wills, meet with an experienced estate planning lawyer today.