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How to pick the right power of attorney

On Behalf of | Dec 9, 2021 | Estate Planning | 0 comments

You have a few options when choosing a power of attorney. You can choose a financial power of attorney if you want someone to handle your taxes, debts and bills near the end of your life. You can also choose a medical power of attorney if you want someone else to be able to make medical decisions on your behalf, should you become incapacitated in some way. 

How do you pick the right person? There are a lot of things you need to consider. 

Find someone that you can trust completely 

Perhaps nothing is more important than having someone that you can trust. You are giving them the power to make major decisions that you would only be allowed to make otherwise. You have to know that they’re going to put your best interests first and do what they believe you would want them to do. 

Find someone who is willing 

Secondly, though, you need to find someone who’s willing. Not everyone wants to take on such a big obligation, especially when it comes to making medical decisions near the end of a loved one’s life. Make sure the person wants the job. 

Find someone who understands the system 

Finally, you need someone who really has a good mental grasp of the medical system or financial decisions. They need to be fully capable of making these decisions so that there aren’t any mistakes. Even if someone is willing and you trust them, that doesn’t necessarily mean that they’re the best person for the job if they can’t do it correctly. 

As you set up your powers of attorney and your estate plan, be sure you know about all of the legal options.