What is Power of Attorney?
- A Power of Attorney is a document used to name another person to make decisions for you.
- Generally, there may be a Power of Attorney for financial matters and one for health care.
- A Power of Attorney is called “Durable” when the Agent may act if the maker becomes incapacitated.
How Do You Make a Power of Attorney?
- The maker of the Power of Attorney is called the “Principal” and the person named to make decisions for the Principal is called the “Agent.”
- The powers granted to the Agent, either financial or health care decision-making, are set out in the Power of Attorney document utilized.
When Does the Power of Attorney Take Effect?
- The Power of Attorney will specify whether the Agent can act immediately or only after a specific event occurs, such as the Principal being declared incapacitated.
- A “Springing Power” is often used in estate planning since the Agent does not have the power to act until the Principal is declared incapacitated, usually by doctors.
What is a Health Care Power of Attorney?
- The Health Care Power of Attorney is also known as a Living Will/Health Care Proxy or an Advance Health Care Directive.
- An Agent is named to make health care decisions for the Principal, usually because the Principal is unable to act at some point in time due to health reasons.
What is the Cost for the Power of Attorney?
- A financial Power of Attorney is $29, and a Health Care Power (Advance Directive) is $35.
What You Do Next:
- Answer a streamlined set of questions formulated to address your estate planning needs.
- Or, go directly to Start Power of Attorney to create your financial Power of Attorney.
- Your Power of Attorney will be available for immediate download.
- Either way, your Power of Attorney will be available for immediate download.
