The simple answer is YES; in fact, everyone 18 years of age or older needs both of the following Powers of Attorney.
- Statutory Durable Power of Attorney - allows you to name who you want to make financial decisions on your behalf. You choose when it becomes effective. This Power of Attorney can take effect immediately and is not affected by your subsequent disability or incapacity OR it takes effect only upon your incapacity or disability.
- Durable Power of Attorney for Health Care - allows you to name who you want to make medical decisions for you in the event of incapacity or disability. This Power of Attorney ONLY becomes effective when you become disabled or incapacitated.
Without these documents, you have no control over who makes these decisions for you. If you should become disabled or incapacitated and unable to handle your financial affairs or make your own medical decisions, the Court will step in and decide who your Guardian will be. The Court will also have the final say so over what decisions the Guardian can and cannot make.
Other important documents you need include:
- Directive to Physicians - also known as your Living Will, declares to everyone your wishes with respect to life-prolonging treatments and procedures.
- HIPAA Authorization - also known as the Health Insurance Portability and Accountability Act permits you to name individuals who can have access to your medical information and procedures.
- Declaration of Guardian - allows you to name individuals you want to be the guardian of your person and estate in the event of incapacity AND further allows you to name an individual or individuals who you DO NOT want to be the guardian of your person and/or estate.
Having these documents in place will secure your wishes and make decisions easier for your loved ones. Our firm offers these documents as a package and will prepare them for you and your family. For pricing and additional information, please call our office at 214.559.7202 or contact us.
Do You Need The Guidance Of An Experienced Estate Planning Attorney?
If you find yourself thinking more and more about how to preserve your assets for your family you should speak with an experienced estate planning attorney as soon as possible. Contact us online or call our Dallas office directly at 214.559.7202.
