Seniors: Why do you need a power of attorney?
There may come a time in your life when you are unable to express your wishes with regards to your financial or medical needs. Who will pay your bills or talk to the doctors about your care? With a little proactive planning, you can safeguard your estate wishes and medical directives to be followed through to your chosen desires.
With a power of attorney (POA), you assign a trusted person to act on your behalf. There are two types of POA:
-A durable POA will stay in effect even if you are incapacitated. The person you choose to represent you will have legal authority to care of your finances and medical decisions.
-A non-durable or ordinary POA is negated the moment you are incapacitated.
It is advised to have two separate POA, one for medical and one for financial decisions. You could choose one person to represent you for both, or two separate people. Without a durable POA, your family would have to go to court to be granted legal representation of your estate or medical decision making. If you experience a sudden medical crisis, there may not be time for your family to intercede on your behalf.
We're here to help. If you have any questions on estate planning and power of attorney, give us a call at 503-925-9310.
Prestige Care Senior Living - Riverwood
18321 SW Pacific Highway
Tualatin, OR 97062