What you should know about power of attorney
If you are growing older and worrying that at some point in the future you may lose the ability to make important decisions for yourself, or if you worry that a close relative may become incapacitated, you should understand power of attorney.
Power of attorney is simply the power to make legally binding decisions on behalf of another. Non-durable power of attorney ends when the person granting the power is incapacitated. Durable power of attorney, on the other hand, continues. This is important for anyone who needs to be placed in a long-term care facility. Whether you are thinking of granting this to someone you trust, or may be named as a trustee, you will want an attorney who is both trustworthy and experienced in this field to help you draw up your power of attorney so that it is legally binding.
If financial powers of attorney are drawn correctly, they can be used in order to protect an individual’s assets when that individual might be placed in a nursing home. Language must be inserted into these documents that allows gifting to take place in order to create an avenue by which assets can be protected. Many attorneys fail to include this language that will allow it to be used as a tool to protect assets. Failing to cover this in a financial power of attorney can often lead to a very poor result. Elder law attorneys have the experience and understanding to incorporate the necessary language into a financial power of attorney to achieve desired results. Therefore all financial powers of attorney are not created equal.
Health care power of attorney is a type of advanced health care directive, giving your agent the power to make decisions for you about the course of your health care. There are other types of advanced health care directive. One is the living will, which is also known as a declaration of desire for a natural death. This is defined by the state of North Carolina as a statement that you do not want your life prolonged by extraordinary measures if you are in a vegetative state, or if you have a terminal or incurable illness. An advance instruction for mental health treatment makes your wishes known regarding mental health treatment if you ever need it in the future.
Help with power of attorney in the Gastonia and Charlotte areas
Robert C. Whitt, Gastonia attorney, is servicing the areas of Mount Holly, Charlotte, Gastonia and Gaston, Mecklenburg, Lincoln Counties and surrounding communities. He focuses on wills, trusts and other aspects of elder law. If you are thinking of making out your will or establishing a trust, call his office today.