What would happen if you suddenly could not pay your bills, manage your bank accounts, or explain your healthcare wishes? Would your family know exactly what to do, or would they have to make important decisions during an already stressful time? These are difficult questions, but addressing them now can make life easier for everyone later.
A power of attorney (POA) enables you to select a trusted individual to represent you in financial or healthcare matters if you are unable to manage them yourself. This document helps to eliminate confusion, delays, and disputes among family members when important choices need to be made. This document gives you more control over your future while giving your loved ones clear instructions when they need it the most.
At Jarvis Law Office PC, we help Ohio seniors and their families create estate plans that address these concerns before a crisis occurs. Don’t hesitate to reach out to us.
What Is a Power of Attorney?
A power of attorney or POA is a document that allows you to name another person, known as your agent, to act on your behalf. Depending on the document, your agent may be able to handle financial matters, manage property, or make healthcare decisions if you cannot make or communicate those decisions yourself.
We often explain that a power of attorney is about more than giving someone authority. It is about deciding who you trust to step in and help when you need assistance. Without a plan in place, your loved ones may have to seek authority from the court before they can manage some of your affairs.
It’s important to note that, according to ORC section 1337.24, powers of attorney are generally durable, meaning they are not terminated simply because the principal becomes incapacitated unless the document expressly provides otherwise.
How Can a Power of Attorney Protect You?
Here are some ways a POA can protect you;
It Gives You Control
One of the biggest advantages of having a power of attorney is that you get to choose your agent. Rather than leaving your family to determine who should handle your affairs, you can identify the person you believe will respect your wishes and act in your best interests.
We encourage seniors to think carefully about this decision. Your agent should be trustworthy, responsible, capable of handling important decisions, and willing to follow your instructions.
It Helps With Financial Matters
A financial POA can allow your agent to handle important financial responsibilities on your behalf. Depending on the authority granted in the document, this may include paying bills, managing bank accounts, handling property, or addressing other financial matters.
It Helps Protect Your Healthcare Wishes
Financial decisions are only part of the picture. A healthcare power of attorney allows you to name someone to make healthcare decisions when you are unable to make or communicate those decisions yourself.
This can be especially important during a medical emergency. Your agent can help communicate your wishes and participate in healthcare decisions, consistent with the authority granted under your document and Ohio law.
A vital thing to note is that Ohio treats healthcare POAs separately from financial POAs. A financial POA cannot make medical decisions, and a medical POA cannot manage your bank accounts or sign financial documents.
What Happens if You Do Not Have a POA?
Without the appropriate documents, your family may face additional legal complications if you become unable to manage your affairs. They may need to seek court involvement to obtain authority to handle matters that you could have addressed through advance planning.
That can create unnecessary stress at a time when your loved ones should be concentrating on your health and well-being. By planning ahead, we can help you establish a clearer roadmap for your family.
Choosing the Right Agent Matters
So, who should you choose as an agent? There is no one-size-fits-all answer for every senior. You might consider a spouse, adult child, relative, or another trusted person. The important question is whether that person can responsibly manage the authority you are giving them and make decisions consistent with your wishes.
We also recommend thinking about what happens if your first choice cannot serve. Depending on your circumstances, naming a successor agent may help prevent your plan from failing. ORC section 1337.31 recognizes successor agents, and the terms of your document can establish how authority is handled in such cases.
When Should You Create or Review Your Power of Attorney?
We recommend putting these documents in place before you need them. You generally must have the required capacity to execute a valid power of attorney, so waiting until a serious illness or cognitive decline occurs can create unnecessary complications.
You should also review your documents after major life changes. A divorce, death of an agent, change in family circumstances, significant change in your assets, or change in your wishes may be a good reason to revisit your plan.
We can help you determine whether your existing documents still reflect your needs and whether updates may be appropriate.
A Power of Attorney Is About Planning Ahead
We know that thinking about incapacity is not easy. But putting off the conversation does not make the possibility disappear.
A carefully prepared power of attorney can give you the power to decide who handles important matters if you cannot handle them yourself. It can also give your family clearer guidance and potentially reduce the need for court involvement.
At Jarvis Law Office PC, we help Ohio families understand their options and create powers of attorney that fit into a broader estate and elder law plan.
Let Us Help You Plan Ahead
If you do not have a power of attorney, or if you are unsure whether your existing documents still meet your needs, we encourage you to review your plan now. At Jarvis Law Office PC, our Ohio elder law attorneys can help you understand the different types of powers of attorney available, choose appropriate agents, and coordinate these documents with your broader estate plan. We can also review older documents to determine whether they still reflect your wishes and current circumstances. Taking action before a crisis can give you an opportunity to make these important decisions while you can. Contact us today to discuss your Ohio estate planning and elder law needs and learn how we can help you plan with greater clarity and confidence.
