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DURABLE POWER OF ATTORNEY -- Health Care and Asset Management

Durable Powers of Attorney should always be a part of a person's overall estate plan. There are actually two different types of Durable Powers of Attorney, one for health care decisions and one for asset management.

Durable Power of Attorney for Health Care. A Durable Power of Attorney for Health Care permits a person (the principal) to designate someone (the agent) to make health care decisions for them if they are ever unable to care for themselves. The Health Care Power permits the designated agent to discuss the principal's medical care with the attending physician and make all necessary health care decisions. A Health Care Power of Attorney can indicate how the principal feels about certain types of medical treatment. For example the principal can specify how they feel about the use of life support systems and under what circumstances they may not want them used. Without exception, everyone should have a Durable Power of Attorney for Health Care.

Durable Power of Attorney for Asset Management. The second type of power of attorney is the Durable Power of Attorney for Asset Management. This power of attorney permits the principal to appoint an agent to act on the principal's behalf with respect to financial transactions. The agent is permitted to sign the principal's name to any transaction that is specifically stated in the document. For example the Asset Management Power of Attorney could be used by the agent to sign checks for the principal, make bank deposits, convey title to real property, and sign tax returns. There are many different types of Asset Management Powers. They can convey very broad powers to the agent or they can be limited to just a few. A Durable Power of Attorney for Asset Management is an important document that should be signed only upon careful reflection and then only when you have absolute trust and confidence in the person you appoint as your agent.

The Durable Power of Attorney for Health Care and the Durable Power of Attorney for Asset Management are valuable additions to any estate plan. These documents, together with a Revocable Living Trust, can be used to effectively manage an estate for a person who has lost their capacity to manage for themselves. This type of advance planning can save thousands of dollars in costly conservatorship proceedings.

For more information, please contact Group Law Service at 661-325-3425.

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The California Asset Management, Asset Management accident, wrongful death, product liability, negligence or other Bakersfield, California Asset Management legal information provided on this internet site does not convey any formal legal advice nor does it imply the formation of a lawyer or attorney client relationship. References to successful Asset Management cases in Bakersfield, CA are dependent on the facts of that case. Results differ from case to case. Please contact a CA Asset Management lawyer or California attorney at our law firm offices located in Bakersfield, California in Kern County. This web site is not intended to solicit clients for matters outside of the State of California.