Why you need a Power of Attorney
A power of attorney is a legal document that allows decisions to be made on your behalf regarding your financial and healthcare matters. Someone you trust and appoint will oversee your important life decisions from paying bills to advising on healthcare if you are unable to do so.
There are a couple of different powers of attorney that you will need to understand because it can help avoid costs, delays and emotional distress that may occur ahead of time. Having a power of attorney helps you prepare for the courts and ensures transactions and activities are kept private and remains out of the public. If you need a Power of Attorney or are unsure where to begin, consider speaking to an experienced attorney.
There are a couple types of power of attorneys to keep in mind, a financial power of attorney and a healthcare power of attorney. A financial power of attorney can be used for a single transaction and is a simple way to allow someone you trust to manage your finances in the case that you become incapacitated. This person will have access to your financial accounts, file taxes on behalf of the principal, make investment decisions, collect debt, manage property, and apply for any public benefits. A healthcare power of attorney allows medical decisions to be made in the event you are unable to do so. The designated person will decide what medical care you will receive, which doctors and care providers you use and any other medical related issues you may encounter along the way.
A few things a power of attorney cannot do include changing a principals Last Will and Testament. They must follow the will accordingly and they cannot make decisions on behalf of the principal after their death either. Power of attorneys cannot change or transfer power of attorney to someone else, however they can decline their appointment at any time. It needs to be brought up so the principal can appoint an alternate agent to take over their duties. Having someone you trust is extremely important so you can have both financial and healthcare power of attorneys taken care of.
These documents can save family members and friends a great deal of time and money so having everything in order can be one less stressful task for them. Here at DAL Law Firm, Attorney Darcel Lobo can assist and guide you through the entire process. Please give us a call today at (206) 408-8158 or email us at email@example.com to a consultation to better assess your situation.
19803 1st Avenue S.
Normandy Park, WA 98148
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