Preparing a Power of Attorney: Difference between revisions
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The person you give this power to is called the '''attorney'''. In this case “attorney” doesn’t mean “lawyer.” It simply means the person you’ve chosen to be your decision-maker. | The person you give this power to is called the '''attorney'''. In this case “attorney” doesn’t mean “lawyer.” It simply means the person you’ve chosen to be your decision-maker. | ||
== Why you should consider a power of attorney == | |||
A power of attorney is a simple and inexpensive way to plan ahead. The power you give to your attorney can be limited to a single decision, or it can extend more broadly. There are differents types of powers of attorney. | |||
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| text = A power of attorney is different from a will. A will helps others distribute your possessions after your death. A power of attorney helps you plan out the management of your affairs '''during your lifetime'''. | | text = A power of attorney is different from a will. A will helps others distribute your possessions after your death. A power of attorney helps you plan out the management of your affairs '''during your lifetime'''. | ||
}} | }} | ||
With a '''general power of attorney''', your attorney can manage your affairs while you are '''still ''mentally'' capable of managing your own affairs, but ''physically'' unable'''. This may be a good option if you have mobility issues or are ill. You can give your attorney broad powers to do almost anything with your finances and property. | With a '''general power of attorney''', your attorney can manage your affairs while you are '''still ''mentally'' capable of managing your own affairs, but ''physically'' unable'''. This may be a good option if you have mobility issues or are ill. You can give your attorney broad powers to do almost anything with your finances and property. |