Why do I Need a Power of Attorney?

What is a Power of Attorney?

A power of attorney is a legal document in which you name somebody else (agent or attorney-in-fact) to manage your legal and financial affairs for you.  You can limit the power or make it unlimited.  You can also set a time limit or other conditions which make the power of attorney inactive.

Why a Power of Attorney?

Military Deployment

Before deploying for military service, you will want to sign a power of attorney so your family or spouse can take care of your local financial and legal affairs.  Without this, your family may not be able to do simple things like renew your care insurance.

Travel

If you travel frequently for your work, you will want a power of attorney for the same reasons as somebody on active military deployment.  Your spouse or family should be able to handle your local affairs.

Preventative

You should have a power of attorney on file in case of sudden mental incapacity.  This isn’t the same as dementia.  This would be in the case of an accident or healthcare incident like a stroke or heart attack.  You can setup a power of attorney so that it is only active after your incapacity, not before.

 

 

 

 

 

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