Proper planning now can ensure your rights are protected in the future.
Proper planning now can ensure your rights are protected in the future. By appointing a power of attorney and finalizing a healthcare proxy you can be sure your wishes will be carried out in the future.
To protect your future rights and wishes there are two important documents to have in place, a power of attorney and a healthcare proxy. These documents allow designated individuals to make decisions on your behalf in the unfortunate event you become incapacitated. These critical estate-planning tools will give you security now and in the future.
A power of attorney grants an individual the right to make financial decisions if, at anytime, you are unable to do so on your own. This person is referred to as "your agent" or your "attorney-in-fact". A healthcare proxy is a document that gives an agent, or selected individual, the authority to make healthcare decisions for you. The healthcare proxy will be the person who makes the health care decisions. The party who holds the power of attorney will need to pay for the healthcare.
You may select one individual to fulfill both roles, or you can choose two separate people to perform each assignment. If you choose two separate agents who disagree, conflicts may arise. For instance, your designated care agent may believe that 24-hour in-home care would be in your best interest. But your power of attorney may think a nursing home is financially the best option. In this instance your "attorney-in-fact" could refuse to pay for the in-home care. Any disagreements must be settled in a court of law, which could delay your care and exhaust your financial resources.
To avoid any conflicts, you can select the same person to do both jobs. In any case be sure to designate individuals who you trust, and who will make responsible decisions on your behalf.
When selecting one individual is not practical, you should select two people who get along and work well together. You should also talk to each agent and make sure they understand your wishes for medical care.
The attorneys at Giro Elder Law can help you execute these all-important documents. If you have questions about or answer any questions about these important healthcare tools.