Elder law is an interesting area of law that many know little about until they reach a certain age where this particular area of law has a bigger impact on their life. One specific area of elder law that many clients want to learn more about is the understanding power of attorney.
Power of attorney is essentially a legal document that allows another individual to make financial or legal decisions on behalf of another. There are numerous instances in which this decision is appropriate, but commonly it is chosen when an individual is deemed “incapacitated” for one reason or another. Perhaps the person is too ill, or their mind is not sound enough to understand the implications of certain decisions.
Power of attorney makes it possible for the following choices to be made:
- Financial decisions
- Healthcare decisions
- Guardian recommendations
- Monetary gifts
Because these decisions can certainly have a substantial impact on the estate of the individual, power of attorney should be selected with care and consideration.
How an Attorney Can Help
It’s important to include an attorney in this process for both legal and personal reasons. From the legal perspective, a lawyer can attest to your mental capacity at the time that you made this decision. Furthermore, it removes the burden from friends and family having to keep up with the document. An attorney will also make sure that you include proper