Experienced Power of Attorney Lawyer in Springfield, MO
Good, comprehensive financial and health care power of attorney documents are vital documents for every single individual over the age of eighteen because they designate who is able to “step into your shoes” to make decisions for you when you are incapacitated, whether temporarily or permanently.
These documents are what are necessary to be able to access your financial assets if you are in the hospital, sick, or have lost capacity (i.e. dementia, Alzheimer’s), as well as who can talk to the doctors or hospital on your behalf when you can no longer do so on your own.
Many people believe that because they are the spouse of the incapacitated individual, they will be able to access all of that person’s financial accounts and assets.
While that may be true as to jointly-titled assets, it is not true of individual financial assets like IRAs and 401Ks, or any other asset titled only in the name of the incapacitated individual. The only way a spouse will be able to access those individual financial assets is through a comprehensive general durable power of attorney for finances or a guardianship/conservatorship setup by an experienced elder law firm.
Frequently Asked Questions About Missouri Power of Attorney
What is a “General Durable Power of Attorney for Finances”?
A General Durable Power of Attorney for Finances allows you to carry on your financial affairs in the event that you become ill or incapacitated by naming a trusted individual to be your “agent” or “attorney in fact.” The General Durable Power of Attorney for Finances names the person you want to handle your affairs and allows that person to be able to handle things for you when you are incapacitated.
What is a “Durable Power of Attorney for Health Care”?
Under law you are allowed to designate the person you want to make decisions about your medical treatment options if you are unable to make those decisions for yourself. This can be done by assigning a “Durable Power of Attorney for Health Care.” Your “agent” or “attorney in fact” will then be allowed to direct pre-defined health care decisions on your behalf. Your agent is responsible for making sure that doctors and caretakers honor your wishes and can decide how your instructions apply if your medical condition changes.
What is a “Physician’s Directive” or a “Living Will”?
A Physician’s Directive or Living Will gives you control of decisions about your medical care when you have a terminal condition, are unconscious, or are too sick to communicate. It informs your caretakers of exactly what you want with regard to life support and life-sustaining treatment so that you, and not others, choose what types of treatment you receive. It is the best way to make sure your wishes will be respected and maintained by health care providers.
