Attention Seniors: Understand the Importance of Having a Power of Attorney

July 11, 2020

A Power of Attorney is one of the most important legal documents a person can have. Without a comprehensive power of attorney, many people are neither able to handle their loved ones financial matters nor make health care decisions without seeking court intervention.

What is a Power of Attorney?
A power of attorney is a legal document where one person (the principal) authorizes another (the agent) to act on their behalf. There are financial powers of attorney which allow the agent to make decisions regarding your property and healthcare powers of attorney which allows the agent to make decisions regarding your health care needs.

Your power of attorney can be broad in scope, giving your agent the ability to make any and all financial and personal decisions for you which is called a General Power of Attorney. You can also limit your agents authority by specifying the types of decisions you would like them to make on your behalf which is titled a Limited Power of Attorney.

You also have a choice whether you would like your agent to have the ability to make decisions both now and if you become incompetent which is called a Durable Power of Attorney. A Springing Power of Attorney is limited to make decisions only when you become incompetent.

A power of attorney is a relatively low cost and private way to decide which family member or trusted friend will have the legal authority to carry out your wishes if you can no longer speak or act for yourself.

A Power of Attorney is one of the most important legal documents a person can have. Without a comprehensive power of attorney, many people are neither able to handle their loved ones financial matters nor make health care decisions without seeking court intervention. Piedmont Crossing encourages you to contact legal professionals that can help guide your family to make decisions like Power of Attorney. 

www.piedmontcrossing.org 

Piedmont Crossing is a retirement community in Thomasville, NC.