If you’re interested in using a power of attorney, there are a few different types. For instance, some people use a medical power of attorney, while others will focus more on legal or financial decisions. Either way, this document gives someone else the ability to make decisions on your behalf.
This is why it may be wise to use a springing power of attorney. Writing the document doesn’t necessarily mean you want to give up your rights today. It just means that you’re addressing what could happen in the future. For instance, you may still want to have complete authority over your own medical decisions right now, but you want a power of attorney to be in place in case you can’t make those decisions in the years to come.
The role of incapacitation
This is how a springing power of attorney works. You can create it now without worrying about changing your ability to make decisions, and it only goes into effect—or “springs” into action—if a predetermined triggering event happens. What many people choose is simply incapacitation. If you’ve been declared incapacitated, then you cannot make decisions on your own, and that’s when the power of attorney activates.
After all, incapacitation can be one of the natural effects of aging. Perhaps you suffer from a stroke that makes it impossible for you to communicate. Or maybe you have a condition that is progressively getting worse, such as dementia, so you know that you will eventually become incapacitated. A power of attorney can give you and your family members peace of mind.
Getting everything set up correctly in advance – before a crisis happens – is very important, so be sure you know about all of your estate planning options.
