What is a Power of Attorney Document and Why Is It Important?

Appearing on Local Five Live, Hooper Law Office Estate Planning Attorneys Abigail Plankey and Collin Mittelka discuss the crucial topic of Power of Attorney (POA) documents, exploring their significance in personal and legal affairs. A Power of Attorney is a legal instrument that grants an individual, the authority to act on behalf of another person, in various matters, including financial, medical, and legal decisions.

*Key points discussed in this video include:*

Definition and types of Power of Attorney
The importance of designating a trusted agent
When and why to consider creating a POA
The potential consequences of not having a POA in place
How a POA can facilitate decision-making during incapacitation

Understanding the importance of a Power of Attorney is essential for safeguarding your interests and ensuring that your wishes are honored when you are unable to communicate them. Join us as we provide insights and guidance on this vital legal document.

Lisa Malak
Welcome back to Local Five Live. You know, a lot of decisions go into properly setting up a Power of Attorney.

Millaine Wells
Here to help us through some of those attorneys, Abigail Plunkett and Colleen Matanga of Hooper Law Office. Good morning. Nice to see you both. Morning. So what is a Power of Attorney document and why is it important?

Abigail Plankey
So a Power of Attorney document? It's a document that you have in place in case you want or need help making certain types of decisions. It doesn't mean that you need to change what you do. But most importantly, then, if you can't do something, someone else can.

Lisa Malak
So what are the different types of documents that go into play and how are they different?

Collin Mettelka
So the main types of documents that we deal with would be Powers of Attorney for finances and Powers of Attorney for health care. So like the names imply, the financial Powers of Attorney are where you name somebody who can step into your shoes to make financial decisions for you. Whereas the health care Power of Attorney is your name and agent to make health care decisions for.

Millaine Wells
You, Can they be the same person? Should they not be the same person?

Abigail Plankey
Whatever. Make sense. Okay. Makes sense for someone. It absolutely can. But a lot of times if there's like multiple jobs that people need to do, it can be good to like, disperse some responsibilities. But whoever you trust most is who you trust most.

Lisa Malak
Is that the person that you're going to pick? Are there other things to consider too?

Abigail Plankey
I would actually still consider their their responsibility and trustworthiness and probably their availability to you if if someone needs to come and attend doctor's appointments, drive you somewhere, help to make sure things are taken care of. Well, if they're not available in 9 to 5 Monday through Friday, that might be more difficult.

Lisa Malak
Sure.

Millaine Wells
Let's talk a little bit about some common misconceptions about these documents.

Collin Mettelka
So I think two of the biggest misconceptions are that all of them are the same. And really, especially with the Financial Power of Attorney, they're only allowing your agent to do what explicitly authorizes them to do in the documents. And probably the largest misconception is that agents under Powers of Attorney can continue to act after somebody has died.

Collin Mettelka
So someone will say, you know, I was the agent for my mom or dad. Can I continue to pay bills and things after they passed away? And unfortunately, the answer is no.

Lisa Malak
So what do we do in that situation? Who else do we need taking care of things after?

Collin Mettelka
Sure. Then we're looking for the Personal Representative under a Will. Or we're looking for the Trustee named under the Trust.

Millaine Wells
Sure, we can understand why this is something to navigate with a team of professionals like yours. The seminar is really a great place to start, right?

Lisa Malak
And Colin, I think a lot of people think of this as maybe an end of life, grandparents, things like that. But it's never too early to make sure you have power of attorney. Life can change in an instant.

Collin Mettelka
Absolutely, And especially with the health care documents, as soon as you're 18, nobody is presumed to know about what's happening with you. So especially if you want your parents to know if something happened to you and what's going on with your situation. Having the proper healthcare documents in place is important.

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