Planning for The Worst: How a Power of Attorney Can Help
Imagine being unable to manage your finances or make critical healthcare decisions due to illness or unexpected circumstances. It’s a scary thought, but unfortunately, more common than we realize. That’s where Powers of Attorney (POAs) come in.
Quick Summary:
- What is a Power of Attorney:
- A Power of Attorney (POA) allows you to appoint a trusted individual, known as an agent, to manage your affairs when you’re unable to do so yourself.
- What is an Advance Healthcare Directive:
- An Advance Healthcare Directive is a legal document where you outline your treatment preferences.
- Types of Powers of Attorney:
- Durable Power of Attorney for Finances: Empowers your agent to manage financial matters even if you’re incapacitated.
- Durable Power of Attorney for Healthcare: Authorizes your agent to make medical decisions on your behalf.
- Limited, Springing, and Minor Child Powers of Attorney: Offer specific powers for limited durations or under certain conditions, tailored to unique circumstances such as temporary incapacitation or child care needs.
What is a Power of Attorney
A power of attorney (POA) lets you choose someone you trust, called an agent, to act on your behalf when you can’t make decisions yourself. This could be due to illness, travel, or anything else that prevents you from handling things.
Think of it like giving your agent a temporary “key” to manage your stuff. They can pay bills, make medical choices if you give them permission, or handle other important matters, depending on what you decide. This is especially helpful if you know you might be unavailable or unable to manage things in the future.
What is an Advance Healthcare Directive?
An Advance Healthcare Directive is a legal document where you clearly say what kind of treatment you do or don’t want, like life support, pain medication, or specific procedures. You can even mention your values and beliefs so doctors can make decisions that align with what matters most to you.
What are the Types of Powers of Attorney?
- Durable Power of Attorney for Finances: This lets your chosen agent manage your money and other financial matters, like paying bills, buying or selling property, and filing taxes. It remains valid even if you become incapacitated.
- Durable Power of Attorney for Healthcare: This empowers your agent to make medical decisions on your behalf if you’re unable to do so, including consenting to or refusing treatment. This also remains valid after incapacity.
- Limited Power of Attorney: This grants your agent specific, limited powers for a fixed period or for a single event, like selling a particular piece of property.
- Springing Power of Attorney: This POA “springs into action” only if you become incapacitated, offering increased protection for your autonomy when fully capable.
- Minor Child Power of Attorney: This allows parents to designate someone to care for their children (temporary or permanent) if they’re unavailable or disabled.
Call our Las Vegas Estate Planning Attorney Now!
Our attorney at Riggi Law Firm can help with Nevada estate planning, including powers of attorney. We offer you:
- In-depth understanding of Nevada’s POA laws and regulations.
- Personalized guidance to choose the right POA for your specific circumstances.
- Skilled drafting and execution to ensure your POA is legally sound and enforceable.
- Compassionate support in navigating sensitive healthcare and financial decisions.
- Ongoing guidance and assistance as your needs evolve.
We also offer other services in the following practice areas:
- Probate
- Estate Planning or
- Civil Litigation