A major estate plan component is handling your end-of-life affairs, primarily regarding who you wish to inherit your property and assets (i.e., will and trust documents). But another main part of your plan should be preparing for a time when you are still alive but, sadly, incapacitated or without the mental strength to make important decisions on your own. This is planned through powers of attorney and healthcare proxies. While these terms are commonly used interchangeably, you must understand that these are two separate documents. That said, please continue reading to learn the difference between a power of attorney and a healthcare proxy and how one of the experienced Butler County powers of attorney lawyers at Heritage Elder Law & Estate Planning, LLC, can help you establish either one or possibly even both.
How does a power of attorney document differ from a healthcare proxy?
On the one hand, a power of attorney is a legal document that appoints an agent to make necessary legal or financial decisions on your behalf. Their role may become activated immediately or at the time you are deemed as mentally incapacitated, whichever you instruct. On a similar note, you may specify the scope of their granted powers and make them as broad or as limited as you desire. But generally speaking, your agent may go about signing contracts, making financial transactions, filing taxes, managing your residential home, and much more.
On the other hand, as the name suggests, a healthcare proxy gives your appointed agent the authority to make critical healthcare decisions on your behalf. Unlike a power of attorney, this authority can only get activated when your treating physician declares you as incapable of making such decisions independently and soundly. With that, the scope is limited to healthcare decisions, such as whether life-sustaining treatment should be provided or withdrawn, which treatment option to opt for, which physician to select to administer this treatment, etc.
Why should I establish both of these legal documents in my estate plan?
To reiterate, powers of attorney and healthcare proxies cover different types of important life decisions. And so, if you want comprehensive coverage when you are most vulnerable, it is in your best interest to incorporate both legal documents into your estate plan. Without them, your loved ones may need to step up and petition the Pennsylvania court for guardianship rights to manage your affairs. Likely the last thing you may want is to burden your loved ones with this legal case that demands a lot of time, money, and energy. Plus, for them to feel guilt when making these decisions and doubting whether this is even what you wanted to happen.
We can sympathize with how daunting this whole legal process may be for you. Well, lucky for you, the team at Heritage Elder Law & Estate Planning, LLC, has successfully gone through this countless times before. So please, retain the services of one of the skilled Butler County estate planning & probate attorneys today.
