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Why You Need These Two Powers of Attorney in Your Elder Care Plan

June 30, 2022

Taking the steps to put together and implement an elder care plan is a good decision no matter how old you are. When you talk with a Branson elder lawyer about elder care planning, they will most likely ask you several questions–including questions related to the following two types of powers of attorney that can be made a part of one’s elder care plan.

Durable Power of Attorney for Health Care

In a durable power of attorney for health care, you appoint someone who will make health-care-related decisions for you in the event you become incapacitated and are unable to make these kinds of decisions for yourself. 

Under Missouri law, two doctors are required to make the decision that a person is incapacitated, but in your health care power of attorney, you can state that only one doctor is necessary.

You need to carefully consider who you want to appoint as your agent under your durable power of attorney for health care. You want to choose someone you trust. Additionally, that person must be 18 or older. Many people choose a close relative as their health care power of attorney agent. 

Durable Financial Power of Attorney

Similar to a durable power of attorney for health care, in a durable financial power of attorney you’ll be appointing someone to make decisions for you should you become incapacitated and can’t make those decisions yourself. In a financial power of attorney, these decisions will be about your financial matters, rather than health care.

You can choose to give your agent broad authority to make financial decisions for you, or you can state that they have the authority to make specific financial decisions. For example, you can say that you only want your agent to make decisions about rental property you own or a small business you run.

Just like a health care power of attorney, you should carefully consider who you appoint as your agent under a financial power of attorney. Remember that this person will have the authority to manage your financial affairs, so it should be someone you can trust. 

Why You Need Durable Powers of Attorney in Your Elder Care Plan

No matter your age or the state of your health, these durable powers of attorney are important to your elder care plan. You might be younger now and in a good state of health, but no one can ever say with certainty that they will not develop a disease or disorder that puts their health at risk, nor can anyone be sure that they won’t be involved in an accident that might incapacitate them.

With both these durable powers of attorney as part of your elder care plan, you can rest easy knowing that if the unfortunate happens, you will have people you have chosen, whom you trust, to make these essential but necessary decisions on your behalf, in accordance with your wishes.

A Branson Elder Lawyer Is Here to Help

Your elder care plan plays an important role in protecting you and your family in the event something happens and you can no longer make important health care and financial decisions on your own. A Branson elder lawyer at LifeGen Law Group today can help you put together an elder care plan that works for your specific needs.