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Does Power of Attorney Make You Liable?

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Some, in fact, appoint people to act on their stead while they are in the hospital and to make any medical decisions in their stead like when they need to pull the plug in case of a comatose. This is what is often called the Health Care Power of Attorney, which empowers the attorney in fact to make health care decisions for the principal or the grantor, even something as sensitive as terminating the hospital care in cases when machines are the only one keeping them alive. That means going for someone who will manage your finances and personal matters just as you would have. Trust Your level of trust matters a lot when deciding whom you will authorize to make important decisions on your behalf. Ideally, this person should be someone whom you trust your life with. Comfort The person you will choose to be your agent must be someone who you are comfortable dealing with. In case you suddenly get mentally incapacitated while any of the three kinds of power of attorney is in effect, the durability provision of the document would allow the agent to stay as your attorney-in-fact indefinitely. In the durable power of attorney, you are acknowledging the possibility that you could become mentally or totally incompetent because of any accident or illness. An agent or attorney-in-fact who handles your health care differs from a successor in a living trust. The agent is allowed to manage your finances while you are still alive, while a successor gains control of your assets only after your death. Illnesses can happen to anyone at anytime, so it is important to have a medical or a health care power of attorney while it is still early rather than to let your family members become confused about making decisions regarding your medical and health care. For instance, you can authorize an agent to sign a business contract for you but only that business contract and no other documents. Some are also given a section, for instance, a special power of attorney to look into the financial matters and to manage it and sign documents pertaining only to financials. If you are considering getting a power of attorney, you should make sure you are appointing the right agent or attorney-in-fact (the person who would be given authority to make or execute decisions for you). One usual issue about power of attorney and appointment of agents is the way the person manages or handles finances. 

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