When you start addressing your estate planning and long-term care needs, one important component is power of attorney. Many people recognize the term but lack a full understanding of its role in long-term care planning.
There are many benefits to establishing power of attorney in case you face incapacitation or an inability to make your own medical and legal decisions.
Saves your family costly legal challenges
Planning for the unexpected saves your family from having to pursue a conservatorship or guardianship to make decisions on your behalf. Power of attorney places someone in the decision-making role to prevent legal challenges and complications.
Allows you to communicate your wishes in advance
When you choose your power of attorney, that provides the opportunity to discuss your wishes in detail before any of those decisions ever arise. You can communicate your desires for ongoing medical care, managing your property and establishing your placement in a residential facility if necessary.
Gives you peace of mind
Once you establish your power of attorney, you can relax knowing that someone will handle those decisions and tasks for you. Many parents choose their power of attorney specifically to protect younger adult children from making those decisions. Consider your family situation and establish the power of attorney you need to rest easy.
Every long-term care plan should include power of attorney to ensure continuity of care, ongoing management of responsibilities and reduced risk of confusion or uncertainty. Life is unpredictable, so plan for that unpredictability with the safety nets of a comprehensive estate plan.