Another legal instrument which may help manage your financial affairs Is a durable power of attorney. A power of attorney is a signed and notarized written document giving another person (referred to as the agent or attorney-in-fact) authority to handle some or all of a person's affairs including financial decision making. The person drawing up the power of attorney is called the principal. The power of attorney can be restricted to certain activities, such as selling a specific piece of property or paying rent, insurance and utility bills, or the powers can be general and give the agent broad decision-making authority over financial and personal affairs. A power of attorney may also be limited to a specific time frame.
A regular power of attorney ceases when the principal becomes mentally incompetent but a durable power of attorney remains in effect in the case of mental incompetence. However, the principal must be mentally competent at the time the durable power of attorney is signed.
Power of Attorney for Medical Care
A durable power of attorney for medical care puts the decisions about withholding or withdrawing certain medical treatments into the hands of another person (called the agent) if you are incapacitated. Likelihood of recovery must be non-existent. That person will then make judgments based upon current circumstances and previous discussions with you. The durable power of attorney for medical care applies to all medical decisions, unless you decide to include limitations. It can include specific instructions about any treatments you want or treatments you wish to avoid.
For Those of you Living in Northeast Nebraska
The Reimer Law Office can work with you to fulfill those responsibilities to see that the affairs of your loved one are properly handled. THERE IS NO CHARGE
for the initial consultation at Reimer Law Office PC LLO.
Call us today for your FREE initial consultation.
Proudly serving Nebraska, Eastern South Dakota, and Northwest Iowa.