Should You Establish A Medical Power of Attorney?
There is no way to tell when an accident or serious illness will render you unable to handle your own affairs. If you do not designate someone you trust to make your health care and financial decisions should you be unable to, you will put great strain on your loved ones and your caregivers.
Your loved ones will also have to go to probate court to obtain the ability to make the health care and financial decisions for you. Further, you risk never having your wishes made known.
At Brown Borkowski & Morrow, we offer comprehensive estate planning guidance to individuals in Farmington Hills and the surrounding communities. We have extensive experience drafting powers of attorney, helping to ensure our clients’ medical and financial decisions will be taken care of by a trusted friend or family member in the event of incapacitation.
What Is a Medical Power of Attorney?
A medical power of attorney is a document that appoints someone you trust as your patient advocate. This individual will be responsible for making medical decisions for you if you become incapacitated.
By creating a medical power of attorney before an accident or illness, you can save your family, friends and caregivers the stress and headaches involved with attempting to guess what your wishes would be if you could communicate them. Our Detroit medical power of attorney lawyers can draft this document for you, clearly specifying your desires.
What Is A Living Will?
There is a fair amount of confusion surrounding the living will, also commonly referred to as an advance health care directive. Essentially, this document allows you to voice your wishes in the event that you have a terminal condition or an end-stage condition or are in a persistent vegetative state. However, it does not allow you to name a patient advocate. While the living will is widely used in some states, it appears nowhere in Michigan law.
In-Depth : Estate Planning Blogs.
What Is A Durable Power of Attorney?
A durable power of attorney appoints someone to handle your financial affairs if you become incapacitated. This individual will be able to pay your mortgage, manage your investments and make key decisions affecting your estate.
You can specify whether you want this person’s authority to be valid immediately based on when you sign the document or when you have been declared incompetent, which is referred to as a springing power of attorney. A springing power of attorney authorizes your agent to act only after you have been declared incompetent.
Building A Complete Estate Plan
Creating a power of attorney is only one aspect of a comprehensive estate plan. To ensure all your estate planning needs are met, speak with our experienced attorneys. Call us at 888-757-1681 or contact us online to schedule a free initial consultation today.