Who Should Have Powers of Attorney Ready?

 Posted on October 27, 2022 in Estate Planning and Probate

Powers of attorney can be powerful tools for self-protection during your own lifetime. Should you ever find yourself in a situation where you are not capable of making decisions for yourself or managing your estate, you would likely want to be able to choose the person who should step in and begin managing your affairs. Many people think of powers of attorney as being important mainly for older adults who are likely to suffer mental deterioration due to the effects of aging and aging-related illnesses such as dementia. However, senior adults are not the only group of people who should have powers of attorney in place.

Our team has seen many, many situations where a seemingly young and healthy person is involved in an emergency and needs another person to make medical decisions or get their bills paid on time. Serious accidents can happen to anyone, anywhere, at any time. With powers of attorney in place, you can be ready for any surprises life may throw your way. 

What Are Powers of Attorney?

A power of attorney is essentially an authorization for someone else to take an action with legal effect on your behalf. Powers of attorney can give a person you choose certain privileges to make medical decisions, handle your finances, or take any other actions you deem appropriate. When contemplating preparedness for an emergency or future incapacity, springing powers of attorney are generally used. Springing powers of attorney do not take effect until you have been deemed incapacitated, so there is essentially no risk that you will inadvertently give someone else control over your life right now. 

Who Needs Powers of Attorney?

Everyone who could possibly be involved in a serious accident or have a serious medical emergency should have powers of attorney ready. Since a medical emergency or major accident could happen to anyone, this means that everyone should have powers of attorney in place. 

Life is entirely unpredictable. No one wakes up knowing what will happen that day, let alone years in the future. Creating powers of attorney for health care and finances is a fairly simple legal action that can be done relatively quickly and easily. The stress and difficulty you and your loved ones can be spared by having these papers prepared is likely to be well worth the effort. 

Contact a Bexar County Powers of Attorney Lawyer

Geoff Mayfield, Attorney at Law is committed to helping people prepare for all of life’s unpredictability with powers of attorney. Our caring San Antonio attorneys for powers of attorney will strive to ensure that you will have these essential documents ready should they ever be needed. Call 210-535-0870 for a free consultation. 

Source:

https://www.investopedia.com/terms/p/powerofattorney.asp