If you or a loved one find yourself facing a life-changing condition such as Alzheimer’s, then you likely have many questions weighing on your mind concerning the best way to look after your interests or those of your loved one. For instance, you may want someone to explain to you the difference between a guardian and a conservator, or you may simply want to know the best way of going about providing power of attorney to another family member or other trusted friend in anticipation that you or another loved one becomes incapacitated.
Should you seek assistance in creating a power of attorney document, there are some general things you should know. To begin, a power of attorney document allows one person, the principal, to authorize another person, an agent, to act on his or her behalf with regard to a very particular set of matters—often financial—including estate, healthcare, and inheritance. The degree and extent to which the agent has authority over the principal’s interests depends entirely on what the power of attorney document specifies. A such, one might easily say that this document plays the leading in any potential dispute concerning finances or other related matters such as medical care or other basic living conditions.
While generic legal documents already exist (online and elsewhere) for individuals to fill-out and submit in order to set-up power of attorney, one can never be too careful about drafting this document. While the generic forms may cover the most basic scenarios faced by individuals seeking power of attorney, the forms may not address more unique—or more “real-life” situations facing principals and agents. For example, many generic power of attorney documents fail to address situations that might arise should the principal’s specified agent pass-away or become incapacitated. Should such a scenario arise, the principal would then find him or herself in a situation requiring a new power of attorney document in order to name a new agent. Obviously, such a scenario would raise many questions should the principal have already reached an incapacitated state. For instance, would the principal—if incapacitated—even be able to name a new agent to act on his or her behalf? Does the generic document even address the concept of a “successor agent?”
While generic legal documents may serve your purposes in pinch (and they may serve as useful short-term solution), if you or a loved seriously wish to consider drafting and submitting a power of attorney document, then you should spare yourself the potential stress and heartache of failing to address an important concern and do everything within your power to consult a qualified elder law attorney to assist you. A Colorado elder attorney can help you address the myriad of questions you encounter as you seek the best protection possible for your loved ones and their various interests. Furthermore, by consulting an experienced elder attorney, you can rest assured you’ve done everything in your power to look-out for your loved-one’s interests. Indeed, allowing a seasoned professional who knows the ins-and-outs” of the law will help give you the peace of mind to focus on giving your family members and other loved ones the attention they need as you navigate your way through this potentially difficult time.
