There are two types of
durable power of attorney
you need to arrange, one
for finance and another
for health care.
Your durable power of
attorney for finance should
designate an agent to
make decisions for you,
as discussed above. The
document should also
indicate an effective date.
In most cases you want the
document to be effective
the same date it is signed, so that it
is effective immediately should a circumstance render you unable to make
decisions as you normally would. Last,
the document should also specify the
extent of authority you are granting to
your agent, whether full or partial control over your finances. If you prefer to
grant only partial control, indicate very
specifically what items your agent may
control and which items your agent
may not control.
Remember, if you grant full or
partial financial control to someone,
you need to also leave them with
the tools to be successful at managing your finances according to your
wishes, such as a list of your financial
accounts and ways to access them.
Your durable power of attorney for
health care choices should designate
an agent and alternatives to make decisions for you, as well as the effective
date, similar to the power of attorney
for finance. Two important parts to
include in your power of attorney for
health care choices are 1) your health
care directives for things such as the
use of life support equipment, whether
or not to resuscitate, and other medical procedures like chemotherapy; and
2) your instructions regarding organ
donation. In most states, power of
attorney for health care is called an
Advance Directive.
For the best peace of mind, you
may wish to consult an estate planning attorney to draft your power
of attorney documents. However, it
is not necessary to do so. In most
states the documents need only to
be witnessed and signed by two
individuals of legal age, who are not
listed as agents, and then notarized
by a notary public. Remember to keep
the documents in a safe place, such
as a safety deposit box at a bank or a
fireproof box at home. a
Ashley Reever is a member of Apostolic Pentecostal Church in St.
Louis, Missouri, pastored by Steve Willeford. She holds a BA in
business administration and management, with a minor in
accounting, and serves as the Finance and Admissions Assistant
at Urshan Graduate School of Theology. She enjoys drinking black
coffee and reading, especially on the topic of finance.
Mar/Apr 2014 • Reflections 31