Learn about your options for a Royal Oak, MI power of attorney by calling Gudeman & Associates, P.C. today. Our firm has 100 years of combined experience helping thousands of clients secure a better future for themselves. Get started by scheduling a free consultation now.
Setting Up a Power of Attorney
A power of attorney is a legally binding document that gives someone called an agent decision-making authority if you are incapacitated. You can establish which areas of your life you to include, such as:
- Medical care, like granting physicians permission to perform procedures
- Financial management, including overseeing investments, buying or selling assets, and paying bills
- Handling duties related to your home
If you want to give someone overarching authority, the terms of your power of attorney can be more general. For example, you entrust all aspects of medical, financial, and asset management decisions to that person instead of putting restrictions on what they are able to do. The agent can be anyone who you believe will act in your best interests, like a family member, close friend, or lawyer. Most people choose someone they have a personal relationship with to save on administrative costs.
Choosing the Right Agent for Your Power of Attorney
Deciding the agent for your power of attorney is the most important part of the process. The role is not something that can be taken lightly, and it is essential that they agree to follow your wishes. You may be able to narrow down the pool of candidates by considering if they possess the following characteristics:
- They are comfortable making decisions under pressure.
- They can maintain a level head and will abide by your directives regardless of how those actions could impact them personally
- You feel comfortable communicating with them and know they will hold your confidence.
- Their values align with yours
- You believe they will follow logic over emotions
Not every person is right for the appointment of your power of attorney. For example, a spouse or other immediate family member may not be able to handle the responsibility of managing your healthcare and finances while dealing with grief or sadness if you are unexpectedly incapacitated due to an accident or sudden illness. Whoever you assign to make medical decisions for you may be put in the challenging position of agreeing to risky surgery or removing you from life support if that is your directive. Power of attorneys is designed to address ‘what if’ scenarios, but your agent has to be prepared to act if they are called upon.
When a Power of Attorney is Necessary
You can set up a Royal Oak power of attorney for a certain amount of time or as a lifelong appointment. When you pass away, the power of attorney is no longer active. If you know you are undergoing an intensive medical procedure, you may grant temporary power of attorney in case something goes wrong during surgery. Situations that may require a power of attorney include:
- Severe mental illness
- An accident that puts you in a coma
- Prolonged absence from the country
- Chronic illnesses that impact your mental capacity, like dementia or Alzheimer’s
Without a power of attorney, decisions about your medical care or finances could be put in the hands of the courts or someone you do not trust. Preparing for the worst-case scenario now is essential to remain in control of who gets authority over your assets and well-being. Call Gudeman & Associates P.C. to establish a Royal Oak power of attorney. Schedule a consultation to learn about your options and gain peace of mind knowing you have a plan in place in the event you are unable to make decisions for yourself.
