At Heritage Law Office, we understand the importance of creating a financial and healthcare power of attorney (POA) as part of your overall estate plan.
What is a power of attorney? How it works and why it's important
A POA is a legal document that allows you to name someone to make decisions on your behalf in the event that you are unable to do so due to incapacity or disability. Without a POA, your loved ones may have to go through a costly and time-consuming court process to have a guardian or conservator appointed to make decisions for you.
The difference between a financial and healthcare power of attorney
A financial power of attorney allows you to name someone to handle your financial affairs on your behalf, including managing your assets, paying bills, and making investments. This can be especially important if you become incapacitated and are unable to manage your finances yourself.
A healthcare power of attorney, also known as a "durable power of attorney for healthcare," allows you to name someone to make medical decisions on your behalf in the event that you are unable to make them yourself. This can include decisions about treatments, medications, and other healthcare-related matters. Often a living will, which outlines your wishes for end-of-life care and treatment, is drafted alongside a healthcare power of attorney.
The benefits of having both a financial and healthcare power of attorney
Having both a financial and healthcare POA in place can bring peace of mind to you and your loved ones. It allows you to choose who you trust to make important decisions on your behalf and ensures that those decisions are made in accordance with your wishes and values.
Additionally, a POA can also save your loved ones from potential legal battles and financial burden. Without a POA, your loved ones may have to go through a court process to have a guardian or conservator appointed to make decisions on your behalf. This process can be time-consuming and costly, and it can also lead to family conflicts.
Contact Heritage Law Office for personalized advice on creating a power of attorney
At Heritage Law Office, our attorneys have the knowledge and experience to guide you through the process of creating a comprehensive estate plan that includes both a financial and healthcare POA. We take the time to understand your unique needs and goals, so we can provide personalized advice on how to best protect and preserve your assets for the future.
Contact us today by calling 414-253-8500 or by sending us a message to schedule a consultation and take the first step in securing your future and the future of your loved ones.