Power of Attorney
Evergreen Estate Planning in Mesa, AZ
Power of Attorney (POA)
A Power of Attorney (POA) allows you to legally appoint someone to manage your medical decisions, property decisions, and/or financial affairs. It is a critical part of your estate plan.
A Medical Power of Attorney allows your designated representative to make decisions over your medical care should you become incapacitated or unable to make decisions on your behalf. It is important to discuss with your representative what your wishes are well in advance of any need for them to make decisions. In other words, make your wishes clear while you are still relatively healthy.
A Financial Power of Attorney allows your designated representative to make financial decisions, pay bills, manage assets, etc. on your behalf should you become incapacitated or unable to make decisions on your own.
For both POAs, it is critical that you choose someone you can trust implicitly.
What a General Power of Attorney Can and Cannot Do:
Although a POA is a critical part of your estate plan, it is important to understand what those powers are and are NOT. An authorized agent of your General Power of Attorney can do the following:
- Manage your investments
- Buy and/or sell things
- Apply for public assistance and benefits (such as ALTCS, AHCCCS, Medicaid, Medicare, or Social Security) for you
- Manage your business or company
- Collect your debts
- Invest your money
- Cash your checks
- Manage your general financial matters and have access to your financial accounts
- Sue on your behalf
An authorized agent of your General Power of Attorney CANNOT do the following:
- Write or make changes to your Last Will & Testament
- Vote in public elections on your behalf, or in your name
- OR HAVE ANY AUTHORITY UPON YOUR DEATH
It is VERY important to note that ALL Powers of Attorney are rendered invalid upon your death. They ONLY have power when the principal is alive. Upon your death, any and all powers cease. That is why a Trust is so important to managing your estate.
