Talk to a lawyer. It is recommended that you consult a lawyer to avoid conflicts or hassles in the future. The lawyer can draft the legal document and inform all the parties involved about the rights and duties stipulated in it. Once the draft is done, the lawyer will keep a copy of the document that will come in handy should legal disputes arise in the future. Getting a POA is a better choice compared to having a conservator, which is a guardian assigned to you by the local probate court. Probate hearings usually take time to complete, not to mention that you are going to incur more expenses than you would with a POA. Of course, why would you waste your time and money when there s a better alternative out there? Medical powers of attorney are not only beneficial for elderly people who are suffering from serious diseases. Younger people who have had an accident or are suffering from a health problem that renders them unconscious can also use these powers of attorney. In any case, you can choose a person who you trust the most to decide on your behalf according to the available information at that time. There are two kinds of power of attorney, the specific and the general. The specific power of attorney identifies particular transaction when the document would take effect. While, the general power of attorney could cover different personal and business transactions. When choosing the person who would best represent the interest of the principal, it is important to consider several factors. As with a living trust, durable powers of attorney protect the privacy of the principal as well as prevent delays in financial transactions. It pays to plan your estate before you become unable to manage things by yourself. On that note, it is important to have a durable power of attorney ready so that you can rest assured that someone you trust will manage all your finances, assets, and health care issues instead of a person appointed by the courts. It is usually used to enable your appointed agent the power to handle your important transactions within a specified period when you are practically unable to do them personally. The special power of attorney provides your agent specific powers. You would decide on those specifics. Unlike the general power of attorney, the special power attorney does not give the agent a broad range of coverage.
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