A big decision you face in the estate planning process is determining who will be your power of attorney, whether it be your health care power of attorney or your financial (durable) power of attorney. The power of attorney has the ability to make the decision on your behalf if you are unable to make decisions. While there are the different types of powers of attorney, there are certain characteristics to look for in the individual whom you choose for such a position.
As a Raleigh estate planning attorney, I help guide my clients through these types of decisions on a regular basis.
4 characteristics to consider in the individual who will be your power of attorney are:
- Attention to Detail: It is important for the individual to focus on details during a stressful time.
- Understanding of Duties: Depending on the power of attorney, there are numerous responsibilities that must be fulfilled. It is important the individual clearly understands those responsibilities and is ready to manage them no matter the situation that arises.
- Understanding of Your Wishes: It is important for the individual to have an at least a basic understanding of your wishes if they become your power of attorney. Where are your bank accounts located? How should the doctors handle your medical treatment?
- Ability to Collaborate: When it is time to step up and be the power of attorney, it can be important to converse with family members, attorneys, financial advisors and other professionals, asking for their help and advice. It is important to remember that it could be a stressful time for the power of attorney, too.
Does a person’s name come to mind when you see this list, or is it hard to consider a family member or friend who could handle the responsibilities? Either way, I would be happy to chat through the decision with you. Contact me today and let’s set up a time to talk soon.
