One of the often forgotten parts of estate planning is taking steps to prepare for a time when you are not dead, but seriously disabled. So many people spend so much time writing last wills and testaments that their families are completely unprepared if they suddenly become disabled.
There is nothing more difficult for a family to find the head of their household or an important family member unable to manage their own affairs. This might seem like a small thing to worry about but if the family member was the primary provider or source of support an inability to take care of small, or large, business matters can be disastrous.
Understanding a Durable Power of Attorney
A generalized power of attorney is one that is commonly found in estate planning in South Dakota. People get them for various reasons over their lifetime but having an agent with power of attorney will be useful in the event that you become ill. This power of attorney is especially important if you are a person that is the head of your house hold and responsible for managing most financial aspects of day to day life.
If you are the only person able to make changes to accounts and contact certain people then your family will be at a stand still until they can obtain legal rights through length legal proceedings. To save your family this trouble find an agent that understands your day to day financial transactions and appoint them as agent giving them the right to manage all of your accounts and business matters.
What is a Durable Power of Attorney for Health Care?
The state of South Dakota offers residents the option of creating powers of attorney specifically for health care purposes. These powers of attorneys will give the agent the right to make all medical decisions for the ill or injured party. They will have the final say regarding what treatments should be allowed or refused.
When choosing an agent to hold a durable power of attorney for health care in South Dakota it is important that you choose someone that will have your best interest at heart. This should be a person who knows, and respects, your wishes and will follow through on them at all times. In addition to giving your agent power of attorney provide them with detailed, written, instructions on what steps you would expect them to take regarding your medical care.
Seriousness of Powers of Attorney
When choosing an agent take your time and remember that this is a serious decision. If you make a mistake you can be putting yourself and your family in a dangerous position. A wise choice is a neutral third party, such as an estate planning attorney.
The holder of a durable power of attorney can make gifts of any property or money as they see fit while the holder of a health care power of attorney can refuse any treatment they like on your behalf. Having a persons rights as agent revoked must always involve a court and while a court is deciding what to do your family will be at the mercy of the agent you have chosen.
