How to Obtain a Power of Attorney For Your Parents
Obtaining a power of attorney can sound intimidating to some, but it is not as difficult as one may assume. Having a clear understanding of what is best for your family and you is the first step to begin the process.
Having help from a knowledgeable elder law attorney that is the ideal approach to ensure that all concerns are heard and that everyone who is involved feels secure. However, before deciding on obtaining a power of attorney for your parents, it is important to ensure that you understand the basics and determine which form of power of attorney is best for you.
This will also help to make the process far easier to discuss with your parents if you have prior knowledge to explain why it’s significant that you obtain their consent for power of attorney.
What to Know About a Power of Attorney
- A power of attorney gives the person obtaining it the right to make binding choices on behalf of someone else.
- The person obtaining these rights is called the agent, and the person sharing their rights is the principal. So if you were to acquire power of attorney from your father, you would be called your father’s agent.
- As the agent, you are able to acquire medical, financial, and legal rights over the principal. Typically, these will be carried out as a medical power of attorney or a financial power of attorney.
- It will be made clear in each agreement what is permitted under the power of attorney. For instance, the agent can make all medical decisions for their father if he is unable to make those choices himself according to a medical power of attorney.
Non-Durable vs. Durable Power of Attorney
- A non-durable power of attorney is fixed to a specific transaction or instance. Normally they are used for one time transactions and are not intended to last permanently.
- A durable power of attorney begins at the time that your parents sign it. This will automatically give you authority as conferred in the agreement and does not expire until your parent passes away or if they choose to.
Determining which kind of power of attorney you will need depends on what your goals are for your parent’s comfort and health in the end.
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