Powers of attorney can be used byparents of college-aged adult children who need health care POAs tointeract with doctors, and business partners find them useful too.(Photo: Shutterstock)

Most of our clients put Powers of Attorney or “POAs” in place asthey age. POAs are legal documents that allow you to name an“agent” (also sometimes referred to as an “Attorney-in-fact”) toact on your behalf for financial or health care decisions, and theyare key components of any estate plan. We believe POAs areincreasingly important beyond your estate plan too.

Consider the following examples: • Parents of college-aged adultchildren need health care POAs to interact with doctors and beinvolved with their children's health care decisions. • A businessassociate needs a non-durable POA to sign a document on your behalffor an important business deal while you are out of the country. •A family member needs a durable POA to manage your personal affairsshould you become temporarily or permanently incapacitated due toan accident or health condition.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.