Power of Attorney for Personal Care
There are two primary types of powers of attorney legally available under the laws of each state in the U.S. You can create a power of attorney for health care. Additionally, you can execute a power of attorney for financial purposes, a power of attorney that can extend to assisting you in dealing with other personal issues relating to daily living.
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Function
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The function of a power of attorney for personal care and assistance is to assign an individual to oversee matters and issues of your daily life. These include everything from managing your financial accounts to ensuring that your recurring financial obligations are cared for in a timely and proper manner.
Misconception
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A common misconception associated with powers of attorney is that you can combine a financial and personal care power of attorney into one for health care. In fact, because a health care power of attorney activates only if you are unable to make decisions for yourself, you need to have two separate powers of attorney. A power of attorney for financial and personal purposes takes effect the moment you sign the document.
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Benefits
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The benefits of a power of attorney for personal purposes is that you designate another individual to oversee certain matters for you. You are relieved of the burden of dealing with some issues associated with your daily life. Moreover, through such a power of attorney, you have the ability to designate a professional to manage certain personal affairs, including your financial portfolio, if you so desire.
Considerations
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One consideration when preparing this type of power of attorney is to select a person you trust and who has the experience to oversee and manage certain personal or financial affairs for you. Additionally, you need to define the precise extent of authority you want to grant to the agent appointed to act on your behalf through the power of attorney. Set forth what specific act your agent will be able to take on your behalf through the power of attorney.
Expert Assistance
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Because of the importance of a power of attorney for personal care, consider seriously engaging the services of an experienced attorney to prepare the instrument for you. Local and state bar associations maintain directories of attorneys in different practice areas. Contact information for these organizations is available through the American Bar Association:
American Bar Association
321 N. Clark St.
Chicago, IL 60654-7598
312-988-5000
abanet.org
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References
Resources
- Photo Credit Hand and document at the meeting image by Dmitry Goygel-Sokol from Fotolia.com
