After the age of 65, your parent may experience an increase in health care needs that only grows as the years take their toll. Factors such as a surgery or dementia may make it temporarily or permanently impossible for him or her to make legal, medical and financial decisions. A retired parent may also decide to relinquish some responsibilities to you so that he or she is free to pursue a hobby or travel. A power of attorney allows you to step in and act on behalf of your parent once, in specific situations or on a regular basis.
At Herr & Low, P.C., we assist our clients in Lancaster in drafting powers of attorney so that there is no confusion about an elderly parent’s wishes when the time comes to act upon them.
General, Special And Durable Powers Of Attorney
By drafting a general power of attorney, your parent is granting you the authority to make decisions for him or her. Alternately, a special power of attorney authorizes you to take care of just one specific item of business, such as managing a retirement account. A durable power of attorney is similar to a living will, in that your responsibilities begin at the moment that your parent no longer has the ability to take care of matters such as financial or medical decisions.
Requirements And Inclusions
To create and sign this document, your parent must be of sound mind, and must be doing so of his or her own free will. It is a good idea to include a note specifying when you are to begin your duties. This may be upon signing the form, or your responsibilities may not begin until an event such as an extended trip or incapacitation occurs.
Contact A Power Of Attorney Lawyer Serving Lancaster, Pennsylvania
To assist you and your parent in drafting a document that provides peace of mind for you both, speak with an estate planning attorney at our Lancaster office. Our toll-free phone number is 888-826-6103, or you may contact us by email.