When you draft a power of attorney, you’re turning over your rights to make certain decisions to someone else. For instance, if you use a financial power of attorney, you may give them the ability to pay your taxes or your bills, or simply to access your bank account. If you use a medical power of attorney, you’re giving your agent the ability to make medical decisions on your behalf, such as working with your doctor to decide what type of care you should receive.
As you can see, this is a major change. These are things that other people are not ordinarily allowed to do for you, but the power of attorney gives them the legal right to do it. When does this take effect? Should you be concerned that drafting the document and naming an agent means you no longer have the fundamental rights you expect?
When you become incapacitated
There are different ways to write a power of attorney, so it is technically possible to write one that takes effect right away. However, what most people do is identify a specific condition that should cause the power of attorney to spring into effect. Prior to this, they retain their own rights.
Most often, the condition noted is incapacitation. This means that you have experienced physical or mental decline in some way that makes it impossible for you to make prudent decisions in your own best interest, so you need an agent to do so. An example of this could be if you have a stroke and are in the hospital in a medically induced coma. You’ve been incapacitated, so your agent needs to work with your doctor to make decisions about ongoing healthcare.
It is important to understand how to draft and file these documents correctly. Take the time to look into all of your legal options.
