Legal Documents for Caregivers

Legal Documents Caregivers Must Have


"A Durable POA (Power of Attorney) provides the legal permissions necessary for someone else to pay household bills, living expenses, taxes, investments, purchases, and other financial tasks" when they are unable to do it for themselves. (FinancialHealth.net)

The article seems to be written for pre-planning for the individual who MAY need the assistance or for when the assistance is actually required and before a person may not have the mental capacity for making the choice (hence why it is DURABLE). A regular Power-of-Attorney will CANCEL if and when the principal becomes mentally incapacitated and cannot make their own decisions.

Since MANY married couples already share property and bank accounts, there may be no need to designate a Durable Financial Power of Attorney on the chance of mental incapacitation unless there is property/accounts held in one name only; some states also restrict the complete sale of jointly owned property without a POA. Different states may have their own rules for Legal Partnerships. Consult an attorney in your state if you have questions.

Durable POAs can be assigned for both Medical and Financial situations or for a Durable Financial POA and a Durable Medical POA. Having two different POAs can be a safety-net or can complicate issues. Before making this decision and assigning one or more POAs, the individual should give thought to both the abilities and knowledge of each person considered as a POA and, especially if there is more than one, how well can they interact to provide the best decisions. The best time for a principal to make this decision is before or if they have an illness which is expected to progress and may include mental disability.

"Once filed, a Durable Power of Attorney can only be revoked by the person who gave it. If that person is later declared to be incompetent or incapacitated, they can no longer change their mind and revoke it." (FinancialHealth.net)

to read the full article, go to https://bit.ly/3gDmh2L

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