In this day and age, it is always a promising idea to think ahead, especially when it comes to your finances, equity, and belongings. You want to make sure that your loved ones are taken care of in the event of an accident or unexpected death. Here at Quality Family Care, we want you to safe-guard the things that matter to you the most.
If your family member were to become bedridden or unable to make essential judgments individually, what would you do?
Quite possibly not one of the most enjoyable of discussions but thinking about these circumstances and how to handle them should be a main concern, especially if you have aging parents, brothers or sisters, or elderly family members.
Putting a straightforward legal framework in position can help ease the troubles and give family members and friends assurance. Since aging family members must be competent to legally sign documents, it’s essential to bring up this topic with aging loved ones before they have major health conditions that may affect their cognitive or communication capabilities.
What you should know:
What is a Power of Attorney (POA)?
A power of attorney (POA) is a legal document that enables an individual (the “principal”) to designate an individual (the “agent”) who will handle monetary, legal and/or health choices on his or her account. Generally, the “agent” is a close relative or credible friend. A Power of Attorney (POA) becomes useful once the proper signatures and a notarization is finished (varies by state.).
What is a Durable Power of Attorney
A Durable Power of Attorney is much like the POA but becomes effective only if the “principle” ends up being handicapped (as authorized by a physician.).
What is a General POA?
A general power of attorney gives the “agent” wide-ranging instructions to make legal, financial and health judgments for the “principal”.
What is a Financial POA?
A specific power of attorney offers only special powers to the “agent” when the principle is unable to make crucial judgments. In the case of financial resources, a “principle” can assign an “agent” to make financial and legal choices on their behalf.
What is a Healthcare POA?
A POA for healthcare is an “agent” who can make health and medical conclusions in support of the “principle.”.
How do you create a POA?
Once the “principle” chooses the agent, both individuals should talk about the obligations of the “agent” and the desires of the “principle.” At this moment, the principle should speak with an attorney who can put together the customized POA files.
If you have a limited budget, you may think about using a POA template from a reliable firm that offers legal documents online. Once you’ve completed and printed the papers, the “principle” and the “agent” will have to sign. Extra signatures and notary criteria vary by state. In Florida, the file will need to be notarized and signed by two witnesses.
With plenty of other concerns in your life, producing a POA may be low on the checklist. But don’t let your family members miss this crucial step to guarantee that their best interests will always be at the top of the list.
If you have concerns about an aging relative who wants to continue living on their own, contact us at 561-242-9454, toll-free: 877-513-7156, or visit www.QualityFamilyCare.com.