Through each of these files, you might call a representative to make decisions for you. Would not it be easier to make just one file for both purposes?
A Resilient Power of Attorney for Health Care covers your medical needs if you become handicapped. If you are deemed mentally disabled or terminally ill, you may no longer be able to effectively voice your preferences for treatment. You can set your desires out in a Living Will for your very lasts of life, however a Power of Attorney enables you to designate someone to materialize choices that might or might not be covered in your Living Will such as choosing your medical care throughout a temporary inability.
Your Resilient Financial Power of Attorney will cover the financial and physical possessions of your estate. This may include managing your financial accounts, managing real estate, spending and investing income, paying costs, and handling and investing retirement accounts.
With each kind of power of attorney, you will name a representative. Your health care representative will only cover your medical requirements while you are unable to make your own decisions. If you want, your financial representative may cover your financial resources even while you are healthy. Some married couples choose financial power of attorneys in case one spouse is out of town and needs the other to sign for him or her.
Benefits of Different Documents
There are numerous benefits to producing separate documents for your finances and treatment. First, you have the versatility to call a different agent for each function. What if your medical agent is no great with financial resources? Or what if you don’t want to share your medical details with your financial agent? By having different files you can keep your monetary and medical affairs personal.