What You Should Know About Power of Attorney

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March 21, 2016

Life is nothing if not full of surprises. From the proposal you didn’t see coming to the pregnancy you definitely had not anticipated, life can often feel like a rollercoaster of the unexpected. Unfortunately, life’s tendency to provide surprises can also rear its ugly head in the form of tragedy. Accidents and illnesses have the potential to leave you unable to speak for yourself at any time of any day. Even the healthiest among us fall victim to the unthinkable.

Power of Attorney

It’s very difficult to consider and accept such a grim assessment, but by doing so you can help you and your family be more prepared for any difficulties in the future. One of the best things to do is plan for your medical and financial powers of attorney in Tampa, FL.

 

Defining Power of Attorney

A power of attorney is actually a document that legally provides a certain person of your choosing with the absolute power to make decisions when you are incapable of doing so. There are multiple forms of power of attorney including medical and financial.

 

This is so valuable because it allows a person that you trust to attend to your personal matters when you are not able to. Paying bills, directing medical decisions, managing financial choices, and more. Without a power of attorney, your spouse or other significant person would most likely need to endure a court battle to gain that power.  

 

Financial Power of Attorney

This is a major decision because it gives another person the ability to handle and control all your financial situations. It goes without saying that this person must have your best interests at heart and understand and respect your wishes. Tasks can be as simple as paying bills to filing tax returns and monitoring investment accounts.  

 

Medical Power of Attorney

On the other hand, medical power of attorney is a health care document that describes how you want your health care to be handled if you ever become too injured or ill to control such decisions. A person that you trust will oversee your medical care and ensure that choices are made in accordance to your own wishes. In fact, your power of attorney agent is legally bound to abide by your directions.

 

Regardless of your age, it is worth your time to meet with a lawyer to draw up power of attorney documents.