ESTATE PLANNING

Part 3: Health Care Proxy and Power of Attorney

The Health Care Proxy and Power of Attorney are legal tools available to help manage your affairs should you become incapacitated. Both are only valid while you are alive, can be revoked or revised at any time, and give the Proxy or Attorney authority to act while you are not able to make decisions for yourself.
Health Care Proxy
A Health Care Proxy is one or more individuals whom you authorize to make health care decisions on your behalf.
Tip: – Your Health Care Proxy can, in consultation with your doctors, determine what life support measures should or should not be used and for how long.
– It is important to instruct your Proxy of your wishes especially if your family could disagree about treatment. Ideally you should give a copy of your Health Care Proxy to both the Proxy and your healthcare provider.

Power of Attorney
A Power of Attorney is similar to a Health Care Proxy, except instead of authorizing an individual or individuals to make health care decisions on your behalf, you have authorized them to make other personal, legal and financial decisions.
Tip: – Your Attorney would have authority to access your safe deposit box, write checks on your accounts, negotiate settlements, and enter into contracts on your behalf.
– If you have property that is held solely in your name, your spouse will need a Power of Attorney to make legal or financial decisions regarding that property while you are incapacitated.

Have further questions or need to start your estate planning? Please give us a call!

Gilmore & Gilmore, LLC Danvers | Newburyport | Boston 978-777-3480