DPOA’s are powerful instruments for families who have assets outside of a Trust.
Durable Power of Attorney Financial Decisions
A financial DPOA is appointed to manage all assets that exist outside of a trust when you become incapacitated. Some of the assets include life insurance, retirement plans, and personal property. DPOAs remain in effect until you recover or pass away. You also have the authority to remove your appointed person at anytime in which are competent to make this decision.
In addition to DPOAs you can appoint a POA. The powers given can be general or limited. However, a POA is invalid once you become incapacitated. Therefore, it is very important to think through the timing and type of power of attorney needed.
Durable Power of Attorney Health Care
A DPOA for Health Care is appointed to make medical and health decisions on your behalf when you are unable to make your decisions known. These decisions include consent for giving, withholding, or withdrawing care. A HC DPOA can be the same person as your Financial DPOA or it can be assigned separately. This role is also responsible to make end of life decisions on your behalf or advocate for your written wishes in a DNR order or Advanced Health Care Directive.
Schedule Your First Appointment
You may need both Trustee and POA services, depending on your situation. Hiring a professional fiduciary can support both your estate and personal health care needs. Schedule your appointment to begin taking important steps for your future.