In the intricate tapestry of life, unforeseen circumstances can often challenge our ability to make decisions, especially when it comes to crucial matters such as finances, healthcare, or legal affairs. During these times, having a reliable support system in place can make all the difference. Enter the powerful tool known as the power of attorney (POA), a legal document that grants someone the authority to act on your behalf in various situations.
Who you choose as your power of attorney agent may be one of the most important decisions you make as an adult. This person will be making financial and medical decisions on your behalf, and often times without any oversight. Consider these 7 factors when choosing an agent as this could prevent overall stress for you and your family and keep your finances and health intact and honor your wishes.
#1 TRUSTWORTHY
Can you trust the person(s) with your finances or to make medical decisions for you?
#2 ASSERTIVE
Your POA agent should be assertive when handling duties on your behalf. There may be family members, friends, financial personnel or medical personnel that put pressure on your agent to make certain decisions. Their assertiveness will ensure that the decisions they make as your agent, is in line with what you desire.
#3 MATURITY
Your POA agent should possess a certain level of emotional maturity to handle difficult situations and make challenging and quick decisions.
#4 AVAILABILITY
The person you choose as your POA agent should live nearby so that they are available when needed. For instance, if you require emergency medical care, your power of attorney agent might need to be at the hospital to make medical decisions on your behalf. Your POA agent cannot properly ensure your wishes are being communicated and met if they’re unable to arrive at your hospital or care center quickly.
#5 ATTENTION TO DETAIL
The person making healthcare and legal decisions on your behalf should thoroughly understand your condition and your wishes. Is this person willing to research your medical condition? Ask relevant questions of your doctors? Your power of attorney agent should pay close attention to your finances in order to responsibly manage your assets and investments.
#6 PROXIMITY TO YOU
Consider where your POA agent lives. There is no rule that your POA agent needs to live near you or even in the same state. But keep in mind that the POA agent may need to act quickly and in an emergency. Sometimes proximity can matter.
#7 FISCALLY RESPONSIBLE
Your POA agent will be handling important financial responsibilities on your behalf. They will be responsible for properly managing your money, assets and debts. Your POA agent will make financial and legal decisions that can substantially affect your position in life. Do your research to make sure the person you choose is fiscally responsible with their own finances before choosing them to handle yours.
As we conclude this journey through the intricate realm of the Power of Attorney, it’s essential to recognize the transformative power that lies within this legal document. In a world often marked by uncertainties, having a robust plan in place can be the beacon that guides us through challenging times. The Power of Attorney isn’t merely a piece of paper; it’s a shield, a voice, and a steadfast companion.
The choice of a lawyer is an important decision and should not be based solely upon advertisements. This blog post is written for educational and general information purposes only, and does not constitute legal advice. There is no attorney-client relationship between you and the blog publisher. This blog should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.