We work with clients aged 18 – 104 on their estate and incapacity planning. We are open to working with older centenarians, but have not met any yet. The common factor for all of these clients is that they need a Financial Power of Attorney and Advance Directive for Health Care. All adults need to plan ahead for when they may need help managing their financial affairs or health care. There is no perfect age; the time is now.
The Power of Attorney allows any competent adult (age 18+, aka Principal) to appoint any other adult to have access and decision-making power for financial and legal decisions. This works for the college freshman whose parents are still helping her manage her finances, the young couple buying their first home, the retiree planning ahead for the next phase of life, as well as anyone facing a degenerative disease. In all instances, the appointed agent must follow state law by only carrying out acts that they know the principal reasonably expects them to accomplish. The agent does not have the authority to replace the principal’s decisions with their own.
The Advance Directive allows any competent adult to appoint any other adult to have access to their medical records and make medical decisions when the principal is unable. Even if our client does not know exactly what medical interventions they want, or how they want their body handled after their death, it is important to empower someone of their choosing to step in and handle these details. We never know when we may have a medical emergency, however, most of us know who we do not want managing our health care. The Advance Directive for Health Care is our opportunity to appoint people we do want involved and exclude those we do not. Appoint yours today.