In an emergency scenario, powers of attorney (POAs) authorize a trustworthy individual to make medical decisions or manage financial matters. They help protect people from receiving medical care that does not align with their wishes or values. They help people avoid the loss of resources or other economic setbacks triggered by their inability to pay their bills or run a small business.
Selecting an appropriate agent or attorney-in-fact is critical for the protection of the person (the principal) who is putting the documents in place to be used if they ever become incapacitated and unable to speak and act for themselves.
What traits should be prioritized?
Certain personal characteristics are of the utmost importance when selecting an agent or attorney-in-fact to have POA. The health of the person is a key consideration. They need to be able to manage medical or financial matters for someone else without their own limitations interfering.
Their location is another important consideration. Those who live in another state may struggle to be present when their support suddenly becomes necessary. The ability to manage stress well and to communicate effectively with others is also important.
Being trustworthy enough to manage financial resources without misappropriating them is key for someone who is given financial POA. Finally, the person must agree to assume the authority that comes with having power of attorney.
Individuals often choose a close family member. However, in many cases, people try to select someone other than their spouses or children, who may have intense emotional reactions to the incidents that leave them incapacitated.
Working with an attorney can make it easier to select the right agent and draft legally sound powers of attorney. In addition to creating documents, it’s important to revisit them occasionally to ensure that the chosen agent is still the best option.
