There are two major types of powers of attorney that you may choose to use and both of these should be drafted by an experienced lawyer with your unique needs in mind. Basic estate planning refers to having all your legal documents such as your powers of attorney and your will up to date. If this was written many years ago and you have not adjusted it as your life has changed, there’s a good chance it is outdated.
It might include people who you no longer wish to be beneficiaries or missing grandchildren that have been born since the last time you signed this document. The two primary types of powers of attorney are for financial matters and for health care reasons. The financial power of attorney allows someone else to manage your family’s financial life and to pay your bills if you are no longer able to do so. The other type of power of attorney is for health care. This appoints another individual to make health care decisions on your behalf, if you do not have the appropriate capacity to do so.
Capacity refers to the ability to understand your options and choose the best one for you. You might not have capacity due to the development of dementia, a long-term problem, or temporarily such as being in a coma. In any situation, articulating a power of attorney now makes things easier for your family members during a most difficult time. Talk to a Pasadena estate planning lawyer.
