Although an individual can plan for their estate through estate administration, they may need to plan for their own life as well. You can appoint a power of attorney to help you when you are unable to make decisions for yourself. A power of attorney can have as much power as you give them. They may only have power over one area of your life, such as your finances or they may have control over your end-of-life care as well.
As a power of attorney, you have specific responsibilities that you were entrusted with. This role means that you will act as an agent on behalf of another individual. When that individual is unable to make decisions for themself, due to injury or another nature, you are the one who carries out their wishes. They may have shared with you beforehand of any health decisions or matters regarding their estate. For your role, it depends on how much power you are given as their power of attorney. Sometimes you may only have to handle one situation whereas other times some individuals may have to face multiple matters. A power of attorney has the ability to conduct the same financial actions that the individual granting them this role would perform. These tasks can include filing taxes, executing contracts or borrowing money. As someone with a limited power of attorney role, you are an agent that can take certain actions on behalf of the individual who named you. These actions are at the discretion of the individual who gave you the authority. They can grant you with limited or broad power. Due to this, a limited power of attorney can vary depending on each situation, which may vary by person.
When you are unable to make decisions due to an incapacitated nature, your durable power of attorney will have the knowledge you have provided them with to make end of life care decisions for you. You can share your ideas on life support and organ donation, along with other aspects. This individual will ensure that end of life care is done accordingly and can even manage finances according to directions they were given.
The attorneys at JD Katz have years of experience compassionately guiding clients in Maryland through the estate planning and administration process. Our firm also has experience with matters of elder law, business law, tax law, and litigation. For a legal team that will put your needs first, contact JD Katz today.