There are certain things that only you have a right to do on your own behalf. These include issues like accessing your financial accounts or making your medical decisions.
But there may be situations in which you want to turn those rights over to someone else. You can do this using a power of attorney. With it, you select an agent in advance. Your agent then has the legal ability to take some of these steps for you, as outlined specifically in that power of attorney.
The role of incapacitation
That being said, you generally don’t want to just turn over these rights at the same time that you draft the power of attorney. What you’re doing is planning for the future. You still want to be able to make all of these choices today, but you know that someone else may need to do so in the years to come.
This is when a springing power of attorney becomes so important. You can specify that it only takes effect after you have been declared incapacitated. This may require a review from a physician to determine that you actually are incapacitated, as the court won’t want to take away any of your personal rights otherwise.
For example, say that you are incapacitated as a result of suffering a stroke or because you have a degenerative condition like dementia. A springing power of attorney can establish who can make your medical decisions if you become unable to make them.
Setting up your estate plan
A power of attorney is just one potential tool to use in your estate plan. Take the time to look into all of your legal options.