Granting Powers Of Attorney And Durable Powers Of Attorney
Creating powers of attorney and durable powers of attorney are essential to a comprehensive will and estate plan. Both will make matters easier for you and for your loved ones should you become incapacitated or unable to make financial or health care decisions for yourself.
- Powers of attorney grants legal duty to another person (your agent) to make legal, health and financial decisions on your behalf should you become unable to do so yourself while you are alive.
- Durable powers of attorney remain in effect if you become incapacitated or unable to communicate while living. The agent to whom you grant powers of attorney and the person you grant durable powers of attorney may be one in the same or different.
Appointing individuals whom you know well and trust with these decisions should be done with the guidance and help of an experienced estate planning lawyer. We can help you understand the implications and responsibilities involved with each choice.
At Lance A. Riddle Law Office, Attorneys at Law, we advise and assist clients throughout central Missouri. We will help you appoint these individuals and create a legally valid living will (or "health care advance directive"), which is also an important part of your estate plan.
Do You Need A Living Will?
A living will ("advance directive") indicates what type of medical care you do and don't want in the event of a debilitating injury or illness. You are able to indicate exactly what procedures you do and don't want. Regardless of how general or detailed your living will is about these preferences, it is important to have assigned durable powers of attorney to make difficult decisions in the event that medical choices go beyond the scope of your living will.
The Differences Between Powers Of Attorney And Durable Powers Of Attorney
The individual to whom you grant powers of attorney will be your proxy health care and financial agent who will make medical and financial decisions in line with and as a supplement to your living will if you are incapacitated or unable to make decisions. Thus, it is important that you choose someone you trust, and it is important that you fully communicate your wishes and philosophy to this person. However, this person's authority will terminate if you become incapacitated.
The individual to whom you grant durable powers of attorney will be allowed to manage your finances and health care if you become incapacitated or unable to make decisions. This person's authority will not terminate if you become incapacitated. You may set limits on his or her authority, but you should consider all of your options with an estate planning attorney.
Speak With Attorney Lance A. Riddle In Warrensburg Today
Please call us at 660-747-6600 to schedule a free initial consultation , or contact us through our secure online contact form. We look forward to speaking with you.