What is a Durable Power of Attorney for Financial Management?
A Durable Power of Attorney for Financial Management is a document that allows you to appoint a person, known as an agent, to manage your property and finances. This is particularly important if you lose the ability to do this yourself. The term “durable” simply means that your agent can act on your behalf even if you lose capacity. If you do not have this document in place, the only way another person can fully manage your finances is to seek a court-ordered guardianship over you, a process that requires a minimum of two months, involvement by the court, and additional fees.
What is a Durable Power of Attorney for Health Care?
A Durable Power of Attorney for Health Care is a document that allows you to appoint a person, known as an agent, to make health care decisions for you if you are unable to do it yourself. This document can also give instruction to your agent about the types of medical treatment that you may or may not want. If you do not have this document in place, state law dictates who would be authorized to make medical decisions for you, and this may not be someone you want making those decisions.