What is the importance of a Power of Attorney?
It is good to be proactive in life and especially when you have taken the time to prepare a trust or will that further reflects on how your financial and personal matters should be handled after you are deceased. Also, planning on who will make financial and medical decisions for you when you are incapacitated or disabled is also as important as planning for your uncertain death. This is when the important estate planning documents like power of attorney or POA comes into the picture.
There are many different powers of attorneys like a financial power of attorney and health care power of attorney. The financial power of attorney is that when you are ill or incapacitated, you will definitely need someone to pay your bills and also make investment decisions or handle the financial matters. This is when an agent comes into the picture. You will specify the agent and your wishes in the document known as the financial power of attorney. There are many types of financial powers of an attorney like limited power of attorney, a general power of attorney, durable power of attorney, and tax power of attorney.
When it comes to health care, you can name someone to make the health care decisions on your behalf, and for this, there are many types of health care directives like:
1. A health care power of attorney: A healthcare power of attorney is given to someone that you trust in order to make health care decisions on your behalf if in case you are unable to speak for yourself as this POA is an alternate agent if your primary agent is not available. This health care power of attorney or the health care proxy or the appointment of a healthcare agent is said to be more flexible than the living will. This is because it is impossible to predict the medical situation which might arise and also your exact preference for each of the situation.
2. An advanced directive: This combines living will and the health care power of attorney into one single document. This document will indicate the health care preferences and also the agent in order to make sure that there are additional health care decisions being made for you and this is considered to be the strongest option if there is any strong preference regarding the end of life care and also someone who you trust to make health care decisions for you.
With the help of a power of attorney, it is easier for you and your family since once you get incapacitated, your family will not have access to make decisions for you automatically. Rather than they having to go through the long strenuous process to make decisions for you, the power of attorney can help you and your family in a better way.
In this regards, Notarizers Notary Public Services helps clients with power of attorney and wills and we also provide other services like notarizing the letter of invitation and providing the Commissioner of Oaths and much more.
For further information the importance of Power of Attorney, please contact Notarizers by email at Info@Notarizers.ca or by phone at 416-782-5926.
Victor Opara. Victor Nnamdi Opara. Notary Public. RCMP Accredited Fingerprinting Agent. Pardons, Waivers. Police Clearance. Notarizers.ca. TheTorontoNotary.com. TheFingerPrinter.com, RCMPeFingerprinting.com in North York, Toronto, Etobicoke, Scarborough, Ajax, Markham, Woodbridge, Thornhill, Vaughan, Richmond Hill, Mississauga, and Brampton.