The person who holds power of attorney will perform extremely important roles. They will have the ability to make decisions about your healthcare, living situation, and finances. It is crucial that the person that you give this power to has the ability to do the job right.
The first prerequisite for choosing someone as your agent is that they have the knowledge and skill to perform their role. For example, you would want the person who is managing your finances to be financially literate and know something about investments. Otherwise, you may not be in a much better situation.
In addition, you need someone who has the ability to understand situations and communicate with professionals. The person who has your healthcare power of attorney should be able to learn about medical conditions (although they do not need an extensive scientific background) and know how to talk to doctors and get the information that they need to make decisions.
Your Agent Must Make Hard Decisions
Finally, you want someone who is geographically situated to make decisions when necessary. Preferably, your agent should be located not far from you, so that they are able to be at a hospital or doctor’s office on short notice. The person managing your affairs should be nearby to make the best decisions.
Choosing someone for power of attorney is a critical decision. The person may need to make decisions under pressure, and they must navigate the family dynamic at a difficult time. These are all things that you must think about now.
Call a Rolling Meadows Estate Planning Lawyer
An attorney can help you consider the various possibilities as you make your estate plan, and it is a conversation that you should have now. Reach out to the law firm of Chuck Newland & Associates online or call us at 847.797.9300 to discuss your estate planning needs.
