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Power of Attorney
What is a Power of Attorney and why would I need one?
A power of attorney is a document in which the person signing the document, the principal, gives another person, the agent or attorney-in-fact, the authority to handle some responsibilities for him or her. The agent can do things the principal could do, such as sign checks, pay bills, and sell assets. If the power of attorney document is not otherwise labeled, it is usually a power of attorney for financial and business decisions.
A properly drafted power of attorney can help a family avoid the time, expense, and emotional trauma of going to court to seek a guardianship and conservatorship for a loved one who can no longer care for him or herself.
Will a Power of Attorney document be enough if my loved one becomes incompetent?
If it is necessary to have the authority to make financial and business decisions for someone who is no longer able to make those decisions on their own, a Durable Power of Attorney would be required. This gives the agent authority to act after the principal is incompetent.
What if I need to make medical decisions for my loved ones?
In planning for giving an agent the authority to make medical decisions on your or someone else’s behalf, you will need a specific document called a Patient Advocate Designation.
In a patient advocate designation, or PAD, a person names someone else to act for him or her if she becomes unable to make healthcare treatment decisions for herself.
The person who creates the PAD is called the principal, and the person who is empowered to make decisions is called the patient advocate.
The patient advocate works with healthcare providers to make certain the principal's wishes for treatment are carried out.
In other states, the patient advocate designation may be called by another name, such as living will, health care power of attorney or a healthcare proxy.
Michigan law does not recognize a living will, per se. But the law does encourage a person to name a person to act for her and to specify what medical treatments she does - and does not want - in specific circumstances.
A patient advocate designation is part of every estate plan created by Elder Law of Chelsea.
Definitions:
Powers of Attorney, Generally
A power of attorney is a document in which the person signing the document, the principal, gives another person, the agent or attorney-in-fact, the authority to handle some responsibilities for him or her. The agent can do things the principal could do, such as sign checks, pay bills, and sell assets.
Use of the Power of Attorney
A properly drafted power of attorney can help a family avoid the time, expense, and emotional trauma of going to court to seek a guardianship and conservatorship for a loved one who can no longer care for him or herself.
Durable Power of Attorney
Because an agent has the powers of her principal - and only those powers - if the principal becomes incompetent, the agent's power ends. It is possible, however, to plan beyond this result. When the principal gives the agent authority to act after the principal is incompetent, the power of attorney is called a durable power of attorney.
Immediate or "Springing" Powers
The principal can either give immediate authority to the agent, or can provide that the agent's authority begins when the principal is unable to act.
Durable Power of Attorney -Financial
If the power of attorney document is not otherwise labeled, it is usually a power of attorney for financial and business decisions.
Patient Advocate Designation
In Michigan, when the principal gives the agent authority to make healthcare decisions, the power of attorney is called a patient advocate designation.
Call For More Information
If you have questions about how a properly-drafted power of attorney can protect you or a loved one, call attorney William Lamb at Elder Law of Chelsea: (734) 475-2100.
A power of attorney is a document in which the person signing the document, the principal, gives another person, the agent or attorney-in-fact, the authority to handle some responsibilities for him or her. The agent can do things the principal could do, such as sign checks, pay bills, and sell assets. If the power of attorney document is not otherwise labeled, it is usually a power of attorney for financial and business decisions.
A properly drafted power of attorney can help a family avoid the time, expense, and emotional trauma of going to court to seek a guardianship and conservatorship for a loved one who can no longer care for him or herself.
Will a Power of Attorney document be enough if my loved one becomes incompetent?
If it is necessary to have the authority to make financial and business decisions for someone who is no longer able to make those decisions on their own, a Durable Power of Attorney would be required. This gives the agent authority to act after the principal is incompetent.
What if I need to make medical decisions for my loved ones?
In planning for giving an agent the authority to make medical decisions on your or someone else’s behalf, you will need a specific document called a Patient Advocate Designation.
In a patient advocate designation, or PAD, a person names someone else to act for him or her if she becomes unable to make healthcare treatment decisions for herself.
The person who creates the PAD is called the principal, and the person who is empowered to make decisions is called the patient advocate.
The patient advocate works with healthcare providers to make certain the principal's wishes for treatment are carried out.
In other states, the patient advocate designation may be called by another name, such as living will, health care power of attorney or a healthcare proxy.
Michigan law does not recognize a living will, per se. But the law does encourage a person to name a person to act for her and to specify what medical treatments she does - and does not want - in specific circumstances.
A patient advocate designation is part of every estate plan created by Elder Law of Chelsea.
Definitions:
Powers of Attorney, Generally
A power of attorney is a document in which the person signing the document, the principal, gives another person, the agent or attorney-in-fact, the authority to handle some responsibilities for him or her. The agent can do things the principal could do, such as sign checks, pay bills, and sell assets.
Use of the Power of Attorney
A properly drafted power of attorney can help a family avoid the time, expense, and emotional trauma of going to court to seek a guardianship and conservatorship for a loved one who can no longer care for him or herself.
Durable Power of Attorney
Because an agent has the powers of her principal - and only those powers - if the principal becomes incompetent, the agent's power ends. It is possible, however, to plan beyond this result. When the principal gives the agent authority to act after the principal is incompetent, the power of attorney is called a durable power of attorney.
Immediate or "Springing" Powers
The principal can either give immediate authority to the agent, or can provide that the agent's authority begins when the principal is unable to act.
Durable Power of Attorney -Financial
If the power of attorney document is not otherwise labeled, it is usually a power of attorney for financial and business decisions.
Patient Advocate Designation
In Michigan, when the principal gives the agent authority to make healthcare decisions, the power of attorney is called a patient advocate designation.
Call For More Information
If you have questions about how a properly-drafted power of attorney can protect you or a loved one, call attorney William Lamb at Elder Law of Chelsea: (734) 475-2100.
Quick Links:
(734) 475-2100 voice
(734) 627-4709 fax
- General Estate Planning
- Powers of Attorney
- Wills
- Trusts
- Deeds
- Patient Advocate Designations
- Conservatorship
- Gifting & Asset Protection
- Veterans Benefits
(734) 475-2100 voice
(734) 627-4709 fax
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