Understanding Power Of Attorney

Posted On April 7th, 2021 by Michael Dunham

Learn more about power of attorney for your estate planning and any other legal needs with Dunham Legal.

When it comes to figuring out your estate planning, your attorney is your best friend. They are the ones who are there for you when you have any questions or concerns. The ones who will stop at nothing to ensure that all of your needs and wants are figured out and taken care of. It is because of this generosity that we grant our attornies with so much power and control. But sometimes, it’s best to understand how much power and control we give these officers of the law, especially when it comes to something as important as estate planning. 

No one likes to think of the worst. But it’s important to pray for the best but prepare for the worst. This includes freak accidents, health scares, and yes, even death. When something happens that takes your ability to make decisions for yourself; you have the opportunity to give your attorney the power to make certain decisions for yourself. This is called power of attorney. This is a legal document that grants your attorney full or partial control over certain decisions for you when you are not able to. This is usually done in order to take off stress or concern from you and your family. 

Knowing What Power Of Attorney Is 

As we said before, power of attorney is essentially a legal document that grants your attorney power over your estate and the ability to make decisions on your behalf. With this power, the person you’ve entrusted can take care of an assortment of issues on your behalf. These issues can include taking care of your bills, managing your medical care, and even taking care of your estate planning. While granting this power is only needed for when something goes wrong, it’s usually a good idea to set this up just in case to prepare for the absolute worse. 

Medical Power Of Attorney 

Like most legal issues, there are multiple kinds of power of attorney. One of these specific kinds is a medical power of attorney. As the name suggests, this is a document that sets out your medical needs and wants if the time comes where you are not able to make certain decisions for yourself. This is also when you entrust someone to take care of all of your medical needs, no matter what they may be. This chosen person will work side by side with your doctors and other health care professionals to ensure that you get the absolute best care possible in your time of need. 

Financial Power Of Attorney 

Another pretty self-explanatory form of power of attorney, this type allows you to grant someone control over your financial records and issues. These issues can range from a large variety. From simple transactions such as a real estate deal to something as big as a state audit, your financial power of attorney allows someone to take over for you when it comes to all of your financial struggles and worries. It’s important to note that this is vastly different from medical power of attorney and is something that should be treated as such.