Do I Need a Power of Attorney?

Last Updated on August 22, 2022 by Paul Dunn

Almost every person should have both a financial and a health care power of attorney as illustrated by the following:

  • If you were unable to manage your financial or personal affairs because you became incompetent or incapacitated, someone would have to be appointed by a court to handle your financial and personal affairs. This could easily cost many thousands of dollars. Moreover, your finances would become a matter of public record. A court-supervised conservatorship or guardianship can be avoided by a well-drafted power of attorney.
  • If you were dying or in an irreversible comatose state and did not want to be kept alive by extraordinary measures, a Health Care Power of Attorney would be necessary so you could authorize another person to terminate your medical treatment.