You use a power of attorney as part of your estate plan to identify a specific agent who can act on your behalf when necessary. It is a way of planning for the future, especially when considering incapacitation. If you lose the ability to make decisions on your own, you have already chosen the person who should do so for you.
A common example of this is a medical power of attorney. You could have a medical emergency, such as a heart attack or a stroke. If you do, you need emergency medical care, but you cannot authorize it yourself. Your agent has the legal ability to do so.
This can also be helpful if you are dealing with certain types of diseases or disorders that are relatively common with aging. If you have been diagnosed with dementia or Alzheimer’s, for example, it can be helpful to have a medical agent to make decisions for you.
Are there other options?
Yes, there are other ways to approach this. One example is to use a living will. You can write down instructions for your doctors to approve or deny certain types of medical care in advance. Someone might use this if they know they do not want to be kept on life support, for example.
But in some cases, a medical power of attorney can be even more beneficial. With a living will, you need to guess at what decisions you would make in the future, without actually knowing what specific ailment you may face. With a power of attorney, your agent has all of the information available to make a decision that is in your best interests.
Either way, planning for your medical future is an important part of drafting an estate plan, so be sure you know what legal steps to take.
