By virtue of being Americans, we all enjoy the ability and right to make our own decisions. These decisions vary in degree of importance from something as trivial as selecting the color of our vehicle to significant decisions such as who we want to raise our kids in the event that something happens to us.
A large majority of people tend to delay making a few key decisions, which can significantly impact their lives in the future. These decisions involve executing a Durable Power of Attorney and Nomination of Guardian as well as a Durable Power of Attorney for Health Care Decisions. Appointing trusted individuals to act on their behalf, if or when they become unable to make decisions on their own, is crucial. As people age, their cognitive abilities can decline to varying degrees. The degree can be slight and still allow them to function and make decisions for themselves on a daily basis, or the degree of decline can be great and caused by ailments such as Dementia or Alzheimer’s. Sometimes people can get into an accident and become unable to make decisions for themselves as well. In any case of incapacitation, whether accidental or otherwise, it is always a good idea to have documents in place appointing trusted individuals to carry out your desires.
The first instrument discussed is the Durable Power of Attorney and Nomination of Guardian commonly referred to as a Financial Power of Attorney. This document allows you to select a person to act as your agent and carry out financial decisions on your behalf. This document can be set up to give the nominated person the ability to make financial decisions for you immediately, but more commonly it is set up to go into effect upon your incapacitation. In addition to nominating someone to make your financial decisions, this document gives you the ability to nominate someone to serve as your guardian, in the event that you are in need of one.
The second instrument is the Durable Power of Attorney for Health Care Decisions, commonly referred to as a Health Care Power of Attorney. In this document you will make a series of elections for your desires in certain scenarios, such as if you would like artificial nutrition and hydration to keep you alive once all other treatment has been stopped. You choose what you would like to have happen to you in the event that you are unable to articulate those decisions to medical providers. By nominating a trusted individual, you can ensure that your preferences are adhered to.
It is important to be able to rely on people’s help when you are unable to help yourself. Getting a Financial Power of Attorney and a Healthcare Power of Attorney in place go a long way to make sure you are taken care of how you would like to be. As a bonus, if you have both powers of attorney in place, your loved ones will generally not have a need to gain guardianship over you to take care of your affairs in the case of incapacity. This will save you and them thousands of dollars and the headache of the guardianship process. Here at Allison MacKenzie, we enjoy serving our community and ensuring that everyone’s legal needs are met. Please contact Allison MacKenzie if you are interested in learning more.
– Daniel Judd is a native Northern Nevadan and has been practicing family law for approximately five years. Daniel Judd is a partner at Allison MacKenzie, LTD., in Carson City, Nevada and where he resides with his wife and two children.
To read this article in the Peak NV magazine, check it out here.