Does your elderly loved one need to assign a power of attorney? In a word: yes. Power of attorney can give their caretaker or a trusted friend or family member the power to make important decisions about their health, especially if that health is quickly falling in decline. Throughout the course of this brief article, you will learn of just a few things you need to know about your elderly loved one and power of attorney. For more robust detail, it is highly recommended you speak to an elder law attorney like James M Snow.
Explaining To Your Loved One Why They Need To Assign Power of Attorney
Sometimes an elderly loved can be a bit stubborn about assigning power of attorney. It is imperative that you explain to them why assigning power of attorney is necessary. You should explain that, in some very real sense, this is a way that they can stay in control if their health goes into decline and they can no longer make decisions for him- or herself. If they do not personally name a power of attorney, then a court will most likely make a decision on their behalf. Do be insistent on the matter, but never force it or coerce them into making a decision.
Medical Power of Attorney
The medical power of attorney is one of the documents that you will need in order to proceed with the process. This document, often formally named a "durable power of attorney for health care" will assign responsibility and decisions related to health care to a family member, friend, or caretaker. This person will work in conjunction with doctors and other health care professionals to ensure that your elderly loved one will receive the medical care that they require. Your elderly loved one can also provide a living will, if they are in a sound state of mind when assigning power of attorney. This is a verbatim document of their wishes of how they want themselves to be taken care of if they find themselves in declining health.
Financial Power of Attorney
This document will also assign a specific agent to take care of an aspect of your elderly loved one's life. In this case, of course, it is matters of finance. The agent will be responsible for taking care of mundane tasks such as depositing social security checks and more complex responsibilities, such as looking over your elderly loved one's investments, retirement fund, and bank account.
Hopefully, this brief guide has given you a bit of insight into how power of attorney operates with regard to the elderly.
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