Attorney, Susan Court discusses the legal documents that everyone, young and old, should have in place to avoid expensive legal procedures down the road, like guardianships and conservatorships.
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Taking Control of Your Legal Taking Control of Your Legal DecisionsDecisions
Someone is designated to make health care decisions for you in the event you cannot do so yourself.NOTE: Health Care Power of Attorney now allows for the person you designate to make funeral and disposition arrangements upon your death.
Must be notarized or witnessed in writing by at least one adult. The notary or witness must affirm that you are of sound mind and free from duress at the time you sign the HCPOA.
A written document where a principal (You) designates an agent to act on the principal’s behalf in financial or legal matters. This will take effect immediately or upon your incapacity. You must identify your preference in the FPOA.
A "Durable" Power of Attorney enables the Agent to act for the Principal even after the Principal is not mentally competent or physically able to make decisions. The "Durable" Power of Attorney may be used immediately, and is effective until it is revoked by the Principal, or until the Principal's death.
A "Springing" Power of Attorney becomes effective at a future time. That is, it "springs up" upon the happenings of a specific event chosen by the Power of Attorney. Often that event is the illness or disability of the Principal.
Proper POA’s now have “durable financial”, “durable health care” or “durable mental health care” in their title.
The option to designate a Personal Representative to handle their estate.The option to appoint a guardian for any minor children.The option to appoint a trustee to manage property for any minor children.The option to give assets away to people and organizations.