Though a power of attorney is often created as part of an estate plan, there are strong reasons why every adult should have one, even young adults who have not yet accumulated substantial assets. Having this type of legal instrument in place ensures that someone you trust can make important decisions if you’re ever unable to do so yourself. Regardless of your age, an unexpected illness or injury could leave in you unable to communicate about vital matters.
Some specific reasons why a person should have a valid power of attorney even if they are far from their golden years include the following:
- Accidents and other medical emergencies — A durable power of attorney allows someone to take control of personal and financial concerns if you are temporarily or permanently incapacitated. This is vital in assuring that your instructions for medical treatment are honored and that important financial obligations are not missed.
- Changes that occur upon legal adulthood — Parents of 18-year-olds might not view their sons and daughters as adults, but that’s what they are in the eyes of the law. Once their children reach the age of majority, mothers and fathers no longer have the inherent power to make decisions relating to their medical treatment and other key matters. Executing a power of attorney is particularly critical when a son or daughter goes away to college. In a crisis, parents don’t want to waste time dealing with legal details from a distance when important choices need to be made.
- Extended absences — Someone who goes on a long vacation or must spend an extended period of time out of the country due to work or military service might find it difficult to manage their financial responsibilities at home. When you execute a financial power of attorney, you can give a trustworthy agent the ability to act your behalf.
By setting up a power of attorney now, you’ll have peace of mind knowing that your affairs, or those of your son or daughter, will be handled by someone you trust. It’s never too early to plan for the unexpected.
Abernethy & Hagerman, LLC in Allison Park prepares and revises power of attorney documents for clients throughout Western Pennsylvania. For a consultation with a knowledgeable attorney regarding any estate planning or elder law concern, please call 412-486-6624 or contact us online. Whether you are in Gibsonia, Franklin Park, Bakerstown, West View, Hampton Township, McCandless Township, Wexford and Glenshaw or another area community, we are ready to help you.