Do you need a Power of Attorney?
As you age, you may reach a point where you are unable to make decisions and take action for yourself. You will need someone to step in and do it for you. That is where a power of attorney, or POA, comes in.
A power of attorney is a critical component of any estate plan. It is a legal document that grants a specific individual the ability to act on your behalf in legal or financial situations, should you become incapacitated. While this can be an uncomfortable topic, it’s something that needs to be done.
At Gentle Shepherd Home Care, we recommend that all of our clients have a POA on file. We are your premier, locally-owned in-home care provider in Colorado Springs. If you reach a point where you need assistance but are not ready to move into an assisted living facility, we can help!
In this article, we’re going to explain 4 reasons why you need to have a power of attorney in place.
Top 4 Reasons You Need a POA
Without a POA, Your Next-of-Kin Can’t do Anything
If you were to become incapacitated for any reason, many people mistakenly believe that the next-of-kin can take care of everything. However, this is only true if you have appointed them to do so through a POA. If you do not have a POA in place, they are unable to do anything.
Without a POA, Your Wishes May Not Be Known
If something were to happen that would prevent you from making decisions, a medical POA would allow the person you appoint to make medical decisions. In addition, you can specify what your healthcare wants and wishes are so that the person you appoint can make decisions based on what you want. For example, do you want to be placed on a feeding tube or ventilator to be kept alive?
Without a POA, Your Finances Could be Neglected
Unfortunately, even if you’re unable to for any reason, your bills still need to be paid. If you do not have a financial POA in place, your finances could be neglected. However, with a financial POA, you can designate someone to act on your behalf- managing your bank accounts, paying your bills, and anything else needed to keep your finances from being neglected.
Without a POA, You May be Denied Medicaid
If you require long-term care and need to move into a facility, it’s critical that you have Medicaid to help cover the cost of care. If you find yourself unable to make your own medical decisions and you have not already applied and been accepted to receive Medicaid, you may not be able to without a POA. Therefore, you need a medical POA in place so that the person you appoint can take care of it for you. Medicaid will require lots of documentation and medical records and the POA will allow the appointed person the permission needed to access these records.
Planning ahead
While most people don’t want to think about “what would happen if”, it’s something you need to keep in mind. You need to plan for your future- to protect yourself and your estate and ensure that your wishes are considered. A power of attorney is the best way to protect yourself.
At Gentle Shepherd Home Care, we recommend that all of our clients have a power of attorney in place. After all, we only want what is best for you. If you find yourself in need of home care in or near Colorado Springs, consider what we have to offer. We look forward to serving you!
