Durable Power of Attorney
A Durable Power of Attorney is a written document that designates another person to act on one’s behalf when making legal or financial decisions. By designating someone to act on your behalf, you allow them to sign your name in the event you become unable to handle your own affairs. The Durable Power of Attorney becomes especially important when planning asset transfers and when qualifying for Medicaid. It is also important to discuss whether the authority to be granted under a power of attorney will be immediate or “springing” by future incapacity and the extent of the gifting powers granted by the power of attorney to your attorney-in-fact.
Health Care Power of Attorney
A living will, a form of advance health care directive, is the instruction given by individuals specifying what actions should be taken for their health in the event that they are no longer able to make decisions due to illness or incapacity. Another form of advance health care directive, a health care power of attorney appoints a person to make such decisions on their behalf. Our firm generally proposes a combination of both types of advance directives in a single document.