A power of attorney is a valuable estate planning document that can help you determine who will make important choices on your behalf. One example of this is using a medical power of attorney. If you cannot communicate with doctors due to a medical emergency, the agent that you have named in your power of attorney has the legal ability to do so.
That being said, some people are concerned about creating a power of attorney because they realize that it gives someone else the right to make choices on their behalf. Does drafting this document mean that you have to give up some of your fundamental rights?
A springing power of attorney
The key to using a power of attorney correctly is to determine exactly when it should go into effect. Many people will use a springing power of attorney. They can then set conditions for when it will apply. Often, the document will say that the agent only gains their legal authority if the other person becomes incapacitated.
This means that you do not have to worry about someone else making medical decisions for you today. As long as you have not become incapacitated, you are the only one with the legal authority to do so.
But using a power of attorney still allows you to plan for the future. If something unexpected happens, you know that your agent is ready to step in.
Setting up your estate plan
A power of attorney is just one way to address future decisions in your estate plan. The more guidance you can give to your family, the better, so take the time to carefully look into all of your options to set up a plan this year.
