Extent of a Power of Attorney Under a Living Trust
No one wants to think about death. However, if you plan now you can make the process of dying or becoming incapacitated easier on you and your loved ones. Give your power of attorney only the control you want her to have.
Other People Are Reading
-
Definition
-
"Legal Dictionary" defines a power of attorney as "A written document in which one person (the principal) appoints another person to act as an agent on his or her behalf, thus conferring authority on the agent to perform certain acts or functions on behalf of the principal."
Considerations
-
When you are considering who to appoint as your power of attorney, be sure you pick a person on whom you can rely to make important decisions, someone who has your best interest in mind, and someone who will honor your wishes. Be sure you have a durable power of attorney or your power of attorney will be void in the event of incapacitation.
-
Financial Powers
-
You determine how much power to give to your power of attorney. You can include the power to make financial decisions, invest, pay taxes, pay your medical expenses and plan for governmental benefits.
Medical Powers
-
You also establish how much power you want to give to your medical power of attorney. This person makes the decisions you are unable to if you are incapacitated. This person can make decisions regarding whether to receive treatment, types of treatment to use, or to place you on life support.
-
References
- Photo Credit The doctor and the patient image by Vladimir Usatschenko from Fotolia.com
