Health Care Power of Attorney - This legal document allows you to designate an agent to make health care decisions on your behalf, if you're incapacitated and unable to make decisions yourself. Without a health care power of attorney, depending on your family situation, an Iowa Court may need to appoint a guardian in order to make decisions on your behalf. The guardian appointed by the court may not be the same individual you would have chosen to make health care decisions for you.
Financial Power of Attorney - This legal document allows you to designate an agent to make and handle financial decisions on your behalf, if you're incapacitated and unable to make decisions yourself. Without a financial power of attorney, depending on your family situation, an Iowa Court may need to appoint a conservator in order to make financial decisions on your behalf. The conservator appointed by the court may not be the same individual you would have chosen to make financial decisions for you.
I always recommend adult children ask their parents if they have these and other important estate planning documents in place. The negative impact of waiting to put these documents in place can be financial and emotional. The cost of putting your financial and health care power of attorney documents in place is minimal compared to the cost of establishing guardianship and/or conservatorship through the courts. And the stress that may be placed upon your family when you become incapacitated without these documents in place is high.
Take the time now to appoint your agents for financial and health care decisions. Deeney Law Firm will educate you on these documents and the considerations that should be made prior to appointing your agents.
As with any legal document, you should always consult with an attorney for advice related to your specific needs.
Click my online calendar to schedule a free initial consultation.
Comments