Understanding the Power Of Attorney and Realizing Its Benefits

by Heather

Elderly Man

The importance of having a power of attorney can be realized from the fact that it can bring peace of mind to both elders and their caretakers. In fact, power of attorney for seniors makes it possible for an elderly to empower a trusted person who shall be able to make decisions regarding health care and monetary issues on their behalf. There can be no denying that having such powers in place when your aged loved one is unable to arrive at decisions regarding financial matters can indeed be priceless. This holds all the truer when the individual in need of help denies or simply remains unaware of the worsening physical and mental health conditions.  

When to Get a POA in Place 

One of the common scenarios, when a durable power of attorney comes in handy, is when your elderly loved one is suffering from critical ailments such as Alzheimer’s and Dementia. If you or your aged parent or even your spouse is suffering from Dementia or Alzheimer’s, it is imperative that you do all it takes to create a durable power of attorney as soon as possible. 

Get Informed 

Creating a power of attorney is not that simple and you ought to remain informed about certain important aspects. According to Caringpeopleinc.com, one of the critical aspects you ought to stay informed about is who the grantor of the power of attorney is. In this particular case, it means the elderly person who is suffering from Dementia and Alzheimer’s must be able to understand as to what they are necessarily signing. This is required to protect from instances such as graft, different crimes, etc.  

Elderly Couple

Scenarios for A Durable POA 

There are scenarios when the power of attorney is made “springing” – implying that this goes into effect only when the grantor is unable to demonstrate the ability to make decisions. This implies that the agent shall be able to work on behalf of the grantor only when the ability of the grantor to make health care/financial decisions remains in question. In certain cases, you may need a letter from a concerned physician clearly mentioning that your parent or spouse’s parent understands as what is being signed for the power of the attorney to be considered to be valid.  

Benefits of a POA 

Benefiting from a durable power of attorney makes it possible for family-related decisions to remain confined within the family itself. Furthermore, POA ensures that the estate of your relatives is utilized in an apt manner such that they receive the desired amount of care they necessarily want or desire.  

It is true that being forced to live after the demise of one’s parents or loved one is never that easy as many of us think the same to be, but there are a lot of proactive things which you are supposed to do that the bad things do not get any worse. It is important to plan well in advance and get all the legal documents ready as that shall only make it possible to ensure care for your loved one. It is only by planning well ahead that you shall be able to benefit your cause in the right way. 

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