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What should I know about having a power of attorney?

Many older Washington residents worry about how their finances, health care decisions and other vital matters will be taken care of if they become unable to make these important decisions on their own. However, as you may already be aware, you can be rendered incapacitated at any time due to an unexpected illness or accident. You do not have to be approaching your senior years to be concerned about appointing someone to act on your behalf.

As Investopedia explains, a power of attorney is a legal document that can be effective in ensuring your needs are met in the event of an incapacitation. With a power of attorney, you would name someone you trust to handle your affairs. You can make the power of attorney as extensive or as limited as you wish. For example, you may give your sister power of attorney to pay your bills and make medical decisions for you if you wind up hospitalized and are unable to handle matters yourself. You can designate that financial and healthcare decisions be returned to you as soon as you are released from the hospital.

A power of attorney is also useful in instances where you will be out of the country for an extended time, such as being deployed by the military or taking a leave of absence to travel. You can appoint someone at home to take care of financial matters in your absence.

Powers of attorney and other estate planning matters can be complicated. Therefore, this information should not substitute for the advice of a lawyer.

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To speak with an attorney at Gellner Law Group about estate planning, probate, trusts, wills or tax controversy, contact our law office in Kent, Washington, today. You can call 425-336-2908 or send us an email. We provide representation across the entire Seattle-Tacoma metropolitan area.

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