Power Package! Powers of Attorney
Power Package! Powers of Attorney Explained by a Clearwater Estate Planning Lawyer
Many individuals only think about estate planning as things that will happen upon death. However, an estate planning lawyer in Clearwater will tell you that you also need to plan for your incapacity. This can be done through what we call the “Power Package!” — the durable power of attorney, the health care power of attorney and living will.
Durable Power of Attorney Explained by an Estate Planning Lawyer in Clearwater
The durable power of attorney is a document that takes effect upon incapacity and is effective until death. Typically, you will specify that if a doctor determines that you cannot care for your personal or financial well-being, then the durable power of attorney will act on your behalf.
You will list the individuals who will act as your durable power of attorney. You will also specify exactly what powers they will have to act on your behalf. For example, you can give your power of attorney the power to manage your finances, pay your bills, collect rent, sell stocks, etc. You should talk to your attorney about tailoring the Power of Attorney to fit your circumstance.
You will also want to set terms for when the durable power of attorney will end such as when you regain your capacity.
Health Care Power of Attorney Explained by an Estate Planning Lawyer in Clearwater
The health care power of attorney is similar to the durable power of attorney except it involves health care matters. You can give your power of attorney certain rights to take acts regarding your health care such as determining what hospital you go to, the kind of medical care you will want to receive, release of your confidential medical records, and other health decisions.
The Third document in the Powers Package is the Living Will. In your living will, you may also want to specify matters like whether you would want to be placed on life support, where you would want to spend your remaining days, and the types of medical treatment you would or would not want to receive.
A word of caution-
Because these documents can be missed, it is important that you safeguard them. We recommend that your attorney retain custody of these documents and that you provide instruction as to when they should be released. A power of attorney, in the wrong hands can cause much damage.
Contact an Estate Planning Lawyer in Clearwater
If you have any questions about a durable power of attorney or a health care power of attorney, you will want to contact an experienced estate planning lawyer. Talk to an attorney at the Coleman Law Firm by calling 727-461-7474 to discuss the specific facts of your case.