Powers of attorney can be used by parents of college-aged adult children who need health care POAs to interact with doctors, and business partners find them useful too. (Photo: Shutterstock)
Most of our clients put Powers of Attorney or “POAs” in place as they age. POAs are legal documents that allow you to name an “agent” (also sometimes referred to as an “Attorney-in-fact”) to act on your behalf for financial or health care decisions, and they are key components of any estate plan. We believe POAs are increasingly important beyond your estate plan too.
Consider the following examples: • Parents of college-aged adult children need health care POAs to interact with doctors and be involved with their children's health care decisions. • A business associate needs a non-durable POA to sign a document on your behalf for an important business deal while you are out of the country. • A family member needs a durable POA to manage your personal affairs should you become temporarily or permanently incapacitated due to an accident or health condition.
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